Today Apple confirmed that, in the largest purchase in Apple history, this highly rumored deal with Beats Electronics did actually happen.  A main focus of the deal is on the music streaming service.  This acquisition will see Beats co-founders Jimmy Iovine and Dr. Dre joining the Apple team.

From MacWorld:

“Consider that other shoe beat dropped: Apple on Wednesday confirmed that it has in fact acquired both Beats Electronics—maker of Beats headphones, speakers, and audio software—and Beats Music—the streaming subscription music service—for about $3 billion total.”

Read More: On MacWorld