It's official: Apple has acquired Beats.
The deal, which had been agreed to in May, had been an ongoing operation but not yet officially closed.
[seealso slug=http://sale-online.click/2014/05/08/apple-beats-not-headphones/%5D%3C/p%3E%3Cp%3E"Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family. Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do," the company wrote on a special page welcoming the company. "Beats cofounders Jimmy Iovine and Dr. Dre have created beautiful products that have helped millions of people deepen their connection to music. We’re delighted to be working with the team to elevate that experience even further. And we can’t wait to hear what’s next."
The welcome coincides with the news that French media conglomerate Vivendi sold its 13% stake in Beats Electronics to Apple for $404 million, according to a report from Bloomberg.
Vivendi had invested in Beats through one of its subsidiaries -- Universal Music Group. Jimmy Iovine, who founded Beats with Dr. Dre, previously worked as an executive at Universal.
While the acquisition might be official, not everyone from Beats will remain with Apple. The iPhone maker confirmed on Thursday that it will cut nearly 30% of the workforce at Beats, primarily in roles already covered by Apple.
Beats had various investors including private equity investor Carlyle Group and musician Will.i.am.
Apple bought Beats in late May for $3 billion, the combined price of the company's streaming music and hardware operations.
The Vivendi sale values Beats at $3.1 billion, about $100 million more than the initial price tag on the deal.