Apple’s Beats acquisition shows importance of focusing on certain areas of an organization
Months after the initial announcement, Apple finally completed its purchase of Beats Electronics earlier this month. On Friday, August 1, the consumer electronics giant received the U.S. government's seal of approval and now owns the audio product developer. We covered the event earlier this month and while the ultimate impact of the acquisition remains to be seen, it's likely Apple will use its new partner to help bolster its music division.
"Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family," said the Apple team when the deal was finalized. "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 co-founders 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."
As is typically the case around this time of year, rumors have swirled surrounding Apple's potential fall announcements. The tech giant usually uses early September to introduce a new line of iPods and make upgrades to its iTunes music platform. In recent years, the fall has been used to unveil the latest iPhone, which has increasingly become a media device first and a communication device second.
No one can say at this time if the Beats acquisition will play any role in Apple's fall announcements or product launches, but the company does appear committed to utilizing Beats to improve its music offerings. This shows the value of a strong acquisition strategy. An M&A advisor can help ensure the merging companies can take advantage of each other's respective resources.