Tech giant Apple is currently in negotiations to buy Beats Electronics, the company that produce the uber-popular "Beats by Dre" headphones and was founded by rapper Dr. Dre and record producer Jimmy Iovine in a $3.2 billion deal, according to several reports.
Reports from The Financial Times, Bloomberg, The New York Times and The Wall Street Journal all confirm the negotiations and according to Business Insider, the deal could be announced as early as next week.
Beats Electronics produces a variety of audio products, including the Beats Pill portable wireless speakers. According to Business Insider, Beats recently launched Beats Music, a music streaming service.
If Apple does acquire Beats, this would be their largest acquisition ever.
According to Business Insider, last year, Beats raised $500 million from the Carlyle Group, giving the audio company a $1 billion valuation. If Apple pays some $3.2 billion to acquire the company than Beats value would have tripled in just a few months, Business Insider reports.
Read more at the Business Insider.