What The Beats Deal Means For Apple
Ending weeks of rumors, Apple announced Wednesday that it would be buying popular audio products manufacturer Beats Electronics and its fledgling music service business Beats Music for about $3 billion, making it the largest acquisition in the company’s history. Apple will pay roughly $2.6 billion in cash with an additional $400 million in equity that would vest over time. Apple projects that the acquisition, which is expected to close in fiscal Q4 2014, will be accretive to its fiscal 2015 earnings.
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