Apple buys Beats in a $3.2 billion deal

Apple officially has purchased audio equipment and service company Beats for $3.2 billion. 

This should set Dr Dre up to become the first Black Billionaire Rapper..

As part of the deal, streaming service Beats Music would also join the company's iTunes division. Both services were competitors until now, but it would be interesting to see if Apple is going to merge them together.

The piece of news comes hours after initial reports surfaced that the deal would happen in the coming days.

The deal is confirmed by one of the founders of the company Dr. Dre. By far, this is Apple's largest acquisition recently and the company is hoping it will help its iTunes service regain ground.