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Alias Born | 05/18/2014 |
Thursday, October 30, 2014 8:30:57 PM
Bidder:Apple, US
Target: Beats Electronics, US
Value: $3 billion
Beats Electronics, co founded by hip hop artist Dr Dre and music executive Jimmy Iovine, produces headphones and speakers and offers a music streaming service that presently has 250,000 subscribers.
How does it benefit the acquirer?
Apple will acquire the experienced industry music talent of both Jimmy Iovine and Dr Dre. Beats is a leading headphones brand and its image fits in with Apple's recent hiring of former Burberry CEO Angela Adrendts. Iovine's extensive knowledge of music streaming will enable Apple to develop a much wanted service to rival its competitors.
Why is the deal interesting?
Purchasing hardware externally as opposed to developing it internally is a significant departure to Apple's strategy under Steve Jobs. Apple's iTunes music download platform was launched in 2003, yet given rapid changes in technology, music streaming and subscriptions is now clearly considered key to the future of music distribution. Beats streaming service will continue to be available for Android users and not solely on Apple's iOS. The deal marks a change in strategy in how Apple innovates."
Notice how it mentions the strategy of buying the tech companies rather than developing it themselves. VOIS just needs to prove it works and "BOOM" as INFINITY likes to say.
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