Apple has sealed its biggest ever acquisition with the $3bn purchase of Beats Electronics, a deal that reshapes the music landscape and gives the company new heft in digital streaming.
News of the deal stunned music and technology watchers when it was first reported earlier this month by the Financial Times, because it broke with Apple’s long-standing convention of developing its technology in-house.
However, Tim Cook, Apple’s chief executive, stressed the importance of music to a company that was revived by the success of the iPod.
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