European antitrust regulators on Monday approved the agreement for buying Apple Beats Electronics for $ 3 billion According to the European Commission, the transaction does not threaten competition in the market, as both companies are not dominant in their respective market segments.
Agreement to acquire the companies Apple and Beats Electronics Beats Music was announced in May this year. Purchase became the largest in the 38-year-old Californian giant who prefer to buy small startups. Under the deal, to Apple, in addition to the founders, and business goes on production line of headphones manufactured under the brand Beats.Audio streaming service Beats Music will also be part manufacturer iPhone. The Corporation will pay for the asset $ 2.6 billion in cash and 400 million in shares.
"Music is a very important part of all our lives, and Apple has a special place in our hearts - said Tim Cook. - That's why we continue to invest in music and put it together an outstanding team, to continue to create the most innovative music products and services worldwide. "
In the five years since the launch of the company's brand Beats became a major in music and sports, it is a market leader in the premium segment of headphones. Such musical superstars as Lady Gaga, Lil Wayne and Nicki Minaj, have created their customized models of headphones and speakers Beats.
Fashion designers and street artists - Alexander Wang, Futura and Snarkitecture - collaborated with the company to create a limited edition products, and famous athletes LeBron James, Serena Williams, and consider the use of Neymar Beats important part of training and performances. Beats products have quickly become part of pop culture in the United States, and after the transaction Beats line appears in a much larger number of countries using the online store, Apple retail network and a number of authorized resellers.
From the very beginning and guide Beats, and Apple representatives understood that the transaction will not be quick. Regulators do not rush into a decision, being aware of the fact that both companies occupy a unique position in their market niches, and their alliance could jeopardize free competition among manufacturers of headphones. Today, the European Commission formally approved the agreement, noting that it does not threaten competition in the market.