Apple is set to purchase Beats Electronics in a deal worth $3.2 billion. Yes, you read that correctly. The acquisition hasn’t been “officially confirmed” by either, unless you consider a congratulatory video posted by Tyrese Gibson ¬†where Dre himself appears on film to confirm that a deal is taking place: “The first billionaire in hip-hop, right here from the mother-effing West Coast,” he says. Way to keep it classy.

Apple would take control of its premium headgear accessories, but more importantly its new Beats Music on-demand streaming service. With Apple already heavily invested in the music industry, it would appear as a wise move to snap up a streaming service to compete against the likes of Google Play Music and Xbox Music. It’s clearly not the earphones or sound quality they’re after; HTC dropped them for a reason. We’ll see how this translates into an integration strategy.

Dr. Dre seemingly confirms Apple’s Beats acquisition | iMore.