UPDATED: It's official: Apple has completed the $3 billion deal to buy Beats Electronics and Beats Music. Overnight, also came news that Universal Music Group's parent company Vivendi had completed its portion of the sale receiving $303 million for its 13% stake. Apple welcomed Beats to the corporate family today with a new splash page that included high praise for the company's co-founders.
Interestingly (and perhaps coincidentally) Apple's copywriter's listed Beats Music before the larger Beats Electronics in their welcome which read:
Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do. Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music. We’re delighted to be working with the team to elevate that experience even further.
And we can’t wait to hear what’s next.
This morning Beats also transferred its online sales operation to Apple. Redundancies there and elsewhere at Beats has reportedly led to 200 Beats staffers being warned that their new jobs at Apple may be temporary.