This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-27613243

The article has changed 6 times. There is an RSS feed of changes available.

Version 0 Version 1
Apple agrees to buy headphone maker Beats for $3bn Apple agrees to buy headphone maker Beats for $3bn
(35 minutes later)
Apple has confirmed it will buy headphone maker and music-streaming service provider Beats Electronics.Apple has confirmed it will buy headphone maker and music-streaming service provider Beats Electronics.
The deal is worth a total of $3bn (£1.8bn), and is thought to be Apple's biggest acquisition. The deal is worth a total of $3bn (£1.8bn), and is thought to be Apple's biggest acquisition to date.
As part of the acquisition, Beats co-founders Jimmy Iovine and Dr Dre will join the technology giant. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr Dre will join the technology firm.
Apple boss Tim Cook said the deal would allow the firm to "continue to create the most innovative music products and services in the world".Apple boss Tim Cook said the deal would allow the firm to "continue to create the most innovative music products and services in the world".
Beats was founded by music producer Jimmy Iovine and the hip-hop star Dr Dre and until recently was best known for its headphones.Beats was founded by music producer Jimmy Iovine and the hip-hop star Dr Dre and until recently was best known for its headphones.
It started a subscription-based music streaming service earlier this year.It started a subscription-based music streaming service earlier this year.
However, Apple already has its own iTunes store which is the world's largest music download service. It also launched iTunes Radio last year. Apple has its own iTunes store, the world's largest music download service. It launched iTunes Radio last year.
That has made some industry watchers question the move. But despite having been an early pioneer of digital music, the Californian firm has been facing increased competition from subscription services such as Spotify, Pandora and Rdio.
However, Beats' music service only has about 110,000 subscribers, compared with Spotify's 10 million.
The deal with Beats marks a departure for Apple, which has a reputation for developing new products in-house, rather than buying up smaller firms - a method preferred by rivals Google.
Apple said it would buy Beats for an initial $2.6bn (£1.6bn), and approximately $400m (£239m) "that will vest over time".
Commenting on the deal, Beats co-founder Jimmy Iovine said: "I've always known in my heart that Beats belonged with Apple."Commenting on the deal, Beats co-founder Jimmy Iovine said: "I've always known in my heart that Beats belonged with Apple."
"The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology."The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology.
"Apple's deep commitment to music fans, artists, songwriters and the music industry is something special.""Apple's deep commitment to music fans, artists, songwriters and the music industry is something special."
Apple analyst Jim Dalrymple hinted that it may be Mr Iovine's talent that the technology firm is after.
Writing on his website The Loop, Mr Dalrymple said: "In my opinion, Jimmy is going to play an important role going forward.
"Maybe not that you always see, but he'll be there".