BEATS CLEARS EU, YO

Apple’s $3 billion purchase of Beats has cleared the European Union’s regulatory authority, it was reported today, clearing the way for the deal to close in September.

No antitrust action was deemed necessary by the commission, given the robust competition already in place in Europe and Apple-Beats’ small initial marketshare in both the personal audio electronics and streaming fields there.

Following the decision, Jimmy Iovine and Dr. Dre are reported to have said, "Thanks, yo," in 28 languages.

In other Beats-related developments, the electronics division is being sued by headphone and speaker company Bose, which alleged in papers filed on Friday (7/25) that Beats had infringed five OF its patents for noise-canceling technology.

The claimed infringement pertains to Beats’ Studio and Studio Wireless lines. It’s believed, however, that the suit will have little to no bearing on Apple’s acquisition of Beats.

Beats Electronics earned some $1.3 billion in revenue last year, according to several accounts.