Apple today officially welcomed Beats Music and Beats Electronics to its family, along with Beats co-founders Jimmy Iovine and Dr. Dre, following its $3 billion takeover back in May.
“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,” reads an announcement on Apple.com, while those buying products from the Beats website will now be routed through the Apple Store.
The European Commission today gave its approval to Apple’s $3 billion takeover of Beats Electronics and Beats Music. The regulator concluded that the two companies are not close competitors, and that the headphones they sell are “markedly different in function and design.”
Dr. Dre has been busy celebrating the Beats acquisition with fountains of Hennessy but the world’s favorite hip-hop producer isn’t the only musician who stands to make a fortune off Apple’s big purchase.
Enter William Adams. You probably know him by his stage name, Will.i.am of the Black Eyed Peas. He’s been pimping the Beats brand since day one and for his loyalty he’s been blessed with founding shares in the company that stand to make him more money than he ever saw from his Grammy-winning song, “I Gotta Feeling.”