Apple reported to be close to a deal for Beats Electronics

Media reports have surfaced in the past day that Apple is set to press play on a deal that could see it acquire audio-streaming and hardware maker Beats Electronics.

The Financial Times cited sources close to the deal who said it could be worth as much as $US3.2 billion ($A3.4 billion), which would make it possibly the biggest acquisition in the history of Apple.

Beats Electronics is probably best known for its range of designer headphones called Beats by Dre, which are endorsed by hip-hop star Dr Dre.

Beats Electronics attracted heavy investment for its audio streaming service Daisy in March 2013, with Australian billionaire James Packer being among the investors.

According to Apple news website Apple Insider, the deal would see the Beats management team folded into Apple as a distinct division that ultimately answered to Apple management.

“Under the supposed deal, Apple would gain control of Beats’ audio hardware division as well as the firm’s subscription-based music streaming service. The Beats management team would report to Apple CEO Tim Cook,” Apple Insider says.

The mooted deal for Beats comes less than a week after Apple acquired LED display manufacturer LuxVue Technology for an undisclosed sum.


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