Report: Apple in Talks to Buy Beats Electronics for $3.2 Billion

What's This?

Dr. Dre and Jimmy Iovine attend the unveiling of Beats By Dr. Dre 2011 in New York City.

Image: Kevin Mazur/WireImage/Getty Images

By Seth Fiegerman2014-05-08 22:04:25 UTC

Is this how Apple hopes to get its groove back?

Apple is close to buying Beats Electronics for $3.2 billion, according to a report late Thursday in the Financial Times . This would mark Apple's largest acquisition to date by far.

Beats produces a near-ubiquitous line of headphones and earlier this year launched a music streaming service similar to Spotify, though the latter has reportedly gotten off to a bit of a rocky start.

Apple CEO Tim Cook has said in the past that he's open to the idea of making a 10-figure acquisitions, though this one still comes as a surprise.

Representatives for Apple and Beats did not immediately respond to our request for comment. We will update this story as we obtain more information.

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Topics: apple, Beats, Business, Music