Apple Completes $3 Billion Purchase of Beats

Apple & BeatsApple has posted a welcome page on its website, according to which the $3 billion purchase of Beats Music and Beats Electronics is now complete. Apple said:

“Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. We’re delighted to be working with the team to elevate that experience even further.And we can’t wait to hear what’s next.”

This deal was made public in May this year and Apple had said at that time that it expected to complete the transaction within this quarter. It was also announced today by Vivendi that it had sold $404 million worth of its 13 percent stake in Beats to Apple.

200 workers presently working at Beats have been conveyed notice by Apple that their positions will be temporary and remaining employees will be moving to Apple as permanent employees.

A page on Beats website also announces that the Beats products can now be ordered from Apple store. The privacy policy of the company has also been updated to reflect this major change.

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