Electronics giant Apple has confirmed it's to acquire the subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones.

As part of the partnership, co-founders Dr Dre and Jimmy Iovine will join the company. Tim Cook, Apple's CEO, said 'Music is such an important part of all of our lives and holds a special place within our hearts at Apple. That's why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world'.