Apple officially acquires 13% of Beats with share purchase from Vivendi/Universal Music Group

Beats

The process was always going to be a long one, but it looks like the acquisition of Beats Electronics by Apple has reached one milestone, based on a once-sentence press release issued by Vivendi on August 1.

The press release went out early Friday morning, and announced in a single sentence that the acquisition of Beats by Apple was completed, with the company purchasing 13% of Vivendi/Universal Music Group’s share in Beats.

Apple Beats

In the announcement, Vivendi confirmed its sale of Beats shares was completed with $404 million by Apple. While it was believed that the company would acquire all of Beats shares by the end of September before any type of announcement was made, that isn’t the case, as Apple has launched a microsite to welcome Beats into the Cupertino-based family.

Apple sees Beats as a way to grow in many different ways, from music streaming to headphones. As it stands now, the company is currently extending offers to some Beats employees, while others may not make the transition.

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Categories: Apple News, Beats