Apple close to buy Beats

BANGALORE, INDIA: Apple Inc is on the verge of buying Beats Electronics a record $3.2 billion according to reports on friday.

Reuters reports quoting two people with knowledge of the matter describing it as an expensive foray into music streaming and headphone gear that would mark a departure for the usually cash-conservative iPhone maker.

Both companies are hashing out details and the envisioned deal could still fall through, one person told Reuters on condition of anonymity because the discussions were private, the report said.