Last Tuesday, we heard of reports that the Apple-Beats
deal has been delayed due to a number of reasons which for some was caused
by the cultural differences between the two companies. Fortunately, the two
companies were able to iron out any differences and push through with the
acquisition deal.
However, the deal came at a lower price than expected,
specifically $200 million short. The deal has cost Apple $3 billion, which
includes $2.6 billion in cash and $400 million in stock and will reportedly
close by late September once the required paper works have been approved.
According to Apple’s CEO Tim Cook, Beats co-founders Jimmy
Iovine and Dr. Dre will working on improving the Cupertino company’s music
products, although specific details on what projects this will be were not
mentioned. For now, the two companies will remain separate until those new
products are completed.
