It's official - Apple to acquire Beats - KSLA News 12 Shreveport, Louisiana News Weather & Sports

It's official - Apple to acquire Beats

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Apple is buying Beats for $3 billion. (Source: CNN) Apple is buying Beats for $3 billion. (Source: CNN)

(CNN) - Apple announced Wednesday it will acquire the subscription streaming music service Beats Music and Beats Electronics.

Beats co-founders Jimmy Iovine and Dr. Dre will join Apple and bring along their Beats headphones, speakers and audio software.

Apple CEO Tim Cook said bringing the two companies together will "create the most innovative must products and services in the world."

Apple will pay $3 billion for the two companies.

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