Beats by Dre is a music hardware company founded by Dr Dre and Jimmy Iovine in 2006.
Based in Los Angeles, the company quickly became a success story thanks to its signature Beats By Dre headphones.
In 2014, Apple acquired Beats By Dre in a $3 billion cash and stock deal. It remains the biggest acquisition in Apple history.
The $3 billion consisted a purchase price of approximately $2.6 billion and approximately $400 million which would vest over time.
In April 2020, Apple announced that Apple Music boss Oliver Schusser would be taking over the leadership of the Beats brand.
Long-standing Beats By Dre CEO Luke Wood left the company.Music Business Worldwide