Apple sets its sights on Beats

Apple is reportedly close to sealing a deal with Beats, makers of the popular Beats by Dre headphone line and the recently launched Beats Music streaming music service.

Most recently, Forbes estimated the value of Beats at about $2 billion, but Apple would appear to be paying well above that if the acquisition goes through. According to The Financial Times, Apple is finalising plans to acquire the company for an estimated sum of $3.2 billion — potentially making it one of the costliest and most high-profile acquisitions Apple has made to-date.

The deal will also make Beats co-founder, rapper-turned-businessman Dr. Dre, the wealthiest man in hip-hop.