May 29th 2014
By Mike Flaminio
"I've always known in my heart that Beats belonged with Apple," said Jimmy Iovine. "The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology. Apple's deep commitment to music fans, artists, songwriters and the music industry is something special."
A lot has been said about this since the rumored deal broke. Apple paid $2.6 billion for the company along with $400 million in stock that will vest at a later date. That makes this by far Apple's biggest purchase and there isn't a clear intention. That makes for a lot of intrigue.