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Let the Beats Go On: European Commission OKs Apple’s $3B purchase of Beats

“The European Commission issued a press release to say that the Apple-Beats deal cleared under the EU Merger Regulation legislation. The goal of the EU’s merger policies is to examine such deals and "prevent harmful effects on competition."

“Apple has confirmed it will buy Beats for $3 billion, making it the company’s largest acquisition ever. Beats is best known for its premium headphones, but also recently launched a subscription music streaming service that was the key to Apple’s interest.

“The commission said on Monday that although both Beats and Apple sell headphones in Europe, their combined market share is low and the two companies are not close competitors. The EU noted that headphones from Apple and Beats "differ markedly in functionality and design."

It was also said that major headphone competitors, such as Bose, Sennheiser and Sony, would remain in the marketplace after the Apple-Beats deal closes.”

via European Commission OKs Apple's $3B purchase of Beats.

It’s now up to US regulators to issue their approval, and it would be surprising if this didn’t happen soon.

   

1 Comment

  1. It’s frustrating that Beats music streaming isn’t available in the UK.

    Reply

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