Apple is poised to buy Beats for a massive $3.2 billion in its biggest acquisition ever, but the two companies are yet to finalize the deal, Re/code reports. In fact, Re/code’s sources say that the deal may not be finalized until next week.
Late last week, surprising news broke that Apple is considering purchasing Beats, a hardware and music streaming company, for reasons yet to be disclosed. Many people expected the two companies to soon announce the purchase, particularly considering that Dr. Dre basically confirmed the whole thing in a video published, then pulled, on Facebook.
Dr. Dre and Jimmy Iovine will reportedly join Apple once the purchase is complete, and may make an appearance at the company’s WWDC 2014 event that kicks of in early June.
Meanwhile, Apple has not commented on the purchase, with various pundits speculating on why Apple is interested in paying that much for a company that makes high-end headphones, and whose music-streaming business is far from being a success.