Apple snaps up Dr Dre's Beats in $3bn deal
Published 29/05/2014 | 02:30
TECH giant Apple has purchased music enterprise firm Beats Electronics, based in Clonakility in Co Cork, in its largest-ever takeover of a rival.
The deal is reported to have cost Apple around $3bn (just under €2bn) and will see Apple take over both the company's high-quality headphones and music streaming service.
But Dr Dre moved three of his company bases to Co Cork to take advantage of Ireland's favourable tax laws. Apple has also established a major headquarters in Ireland for the same reason.