Acquisition is the largest made by Apple
Apple has acquired headphones maker Beats Electronics for US$3 billion, in what is the company's largest-ever acquisition.
Beats makes a popular line of headphones and recently launched a streaming music service. The company was founded by music producer Jimmy Iovine and hip-hop artist Dr. Dre. As part of the acquisition, Iovine and Dr. Dre will join Apple.
The total value of the acquisition is US$3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time. The deal is expected to close in fiscal Q4, subject to regulatory approval.
The deal marks a major new content and hardware push for CEO Tim Cook. Apple was known to be wary of big acquisitions under his predecessor, the late Steve Jobs.
“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” said Cook in a statemement. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”
Eddy Cue, Apple’s senior vice-president of Internet Software and Services, added music would continued to be a core part of Apple's future.
“The addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years," he stated.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia
Welcome to Launch Marketing Council’s new 3-part series focused on unlocking the secrets of launching brands, products and service by exploring real-life examples from Australia’s marketing elite, in conjunction with the independent agency Five by Five Global.
In early 2020, I had the pleasure of staying at the newly opened Fullerton Hotel in Sydney. It was on this trip I first became aware of the Fullerton’s commitment to brand storytelling.
If you’ve been around advertising long enough, you’ve probably seen (or written) a slide which says: “They won’t remember what you say, they’ll remember how you made them feel.” But it’s wrong. Our understanding of how emotion is used in advertising has been ill informed and poorly applied.
The launch of a new brand, or indeed a rebrand, is a transformation to be greeted with fanfare. So why is it that once the brand has launched, the brand execution phase can also be the moment at which you kill its creativity?
Well, the conversion can be increased by just using marketing, but in general if you are considering an example with Magento, then it is ...
Bob
How Remedy is using digital marketing and commerce to drive conversion
yo nice article
Bob
6 Ways to ramp up Social Media to Your Web Design
Thanks for sharing with us. I just loved your way of presentation. I enjoyed reading this .Thanks for sharing and keep writing. It is goo...
Nisha
Cancer Council: Finding the physical-virtual engagement balance post-COVID
yes AI should be a course so many People Use AI https://g-techsolutions.com...
M Abdullah Khan
Is AI on course to take over human creativity? - Modern creative - CMO Australia
Extremely informative. One should definitely go through the blog in order to know different aspects of the top retail technology.
Pooja Gupta
Donut King takes in-store marketing to the next digital level