Apple is reportedly in negotiations to purchase headphone and speaker manufacturer Beats for $3.2 billion.
According to Reuters, the deal will also include the Beats Music subscription service.
Founded by rapper Dr Dre and music producer Jimmy Lovine, Beats is best known for its ‘Beats by Dr Dre’ headphone range.
Forbes has reported that, if the acquisition does go ahead for $3.2 billion, Dr Dre would become rap’s richest man.
The deal could leave the rapper with a net worth around $800 million. While it’s not enough to land him in the Forbes 400, he would over take hip-hop’s current richest man, Diddy, by $100 million.
Apple already sells Beats products in its retail stores and just last month Beats began offering a way to subscribe to its streaming service using Apple’s in-app purchases.
Apple has not made a billion-dollar acquisition in at least a decade. It largest acquisition to date was NeXT computer in 1997, which brought co-founder Steve Jobs back into the company.