Apple Finalizes Beats Audio Acquisition

The $3 billion acquisition was announced by Apple back in May and was expected to be finalized during the second quarter of the year. After the European Union approved the purchase earlier this week, Apple has officially welcomed Beats Audio to the family. The company has yet to provide plans with what will happen with Beats Audio.

"Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. 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," said Apple in official welcome message.

Unfortunately, Apple will lay off as many as 200 jobs at Beats as part of the acquisition. The cuts are expected to impact those in human resources, finance, and other roles that "overlap in operations." The company will try to find another permanent job in Apple if possible, while the rest of the employees will be kept on Apple's staff.