
A developing story at this hour indicates that Apple is on the verge of closing the largest acquisition in company history.
Sources speaking with CNBC say Apple is proceeding with a $3.2 billion purchase of Beats Electronics, a prominent headphone maker and music streaming operator.
The company was famously founded by music producer Jimmy Iovine and recording legend Dr Dre.
"The deal could be announced as early as next week, people familiar with the negotiations said, but they cautioned that some details had yet to be agreed and talks could still fall apart," CNBC reports.
If knowledgeable sources are correct, the acquisition would give to Apple everything that Beats has to offer - a streaming music service, its audio equipment business, and the Beats management team.
Although $3.2 billion certainly isn't a small sum of money, Apple's cash reserves are believed to still stand well above $130 billion as of this writing.
Source: CNBC, Ubergizmo
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