Apple's largest and most costly acquisition to date was for Beats, clocking in at a whopping 3 Billion dollars. Today, the price for Beats just increased by another $404 million after Apple bought out Vivendi's 13% stake in Beats. In 1996 Apple purchased NeXT for $429 million. Oh how times have changed. And on this day, Apple officially welcomes Beats to the Apple family.
According to Bloomberg, "the stake was about 13 percent, Paris-based Vivendi said today, and was held by the company's Universal Music Group, the world's largest record label. The investment almost doubled in value from an estimate of $214 million in September, said Conor O'Shea, an analyst at Kepler Cheuvreux in Paris."
The news comes days after the European Commission, under EU Merger Regulation, finally cleared Apple's acquisition of Beats Electronics and Beats Music.
Today, Apple Officially Welcomes Beats to the Apple Family