Congrats to Dr. Dre and Jimmy Iovine… they could be billionaires by the end of this month.
Apple could be close to making its biggest acquisition in the company’s history, offering $3.2 billion to purchase headphone maker Beats Electronics, which recently launched a streaming music service.
Should the deal close, it would mark a major payout for Beats founders and music industry icons Jimmy Iovine and Dr. Dre, who launched the Santa Monica, Calif.-based company in 2008. Its products were produced by Monster Cable until 2012, when founders bought back control of the company from Monster and mobile hardware maker HTC.
A deal could be announced next week, individuals close to the companies say.