Apple Buys Beats Electronics For $3 Billion

(Undated) -- Apple's deal to buy Beats is finally done. Apple has confirmed the purchase of Beats Electronics for a whopping three-billion-dollars. In a statement released Wednesday, Apple CEO Tim Cook said the acquisition will see Beats co-founders Jimmy Iovine and Dr. Dre joining Apple. Beats Electronics makes the popular Beats headphones, speakers and audio software. It's also behind the subscription streaming music service Beats Music. The company was founded by Dr. Dre and Iovine back in 2008.