The rumors were true. Apple has confirmed that it will buy Beats Music and Beats Electronics for a combined $3 billion.

The company confirmed the rumors just moments ago, with Apple CEO Tim Cook, saying that acquisition of Beats was important because “Music is such an important part of all of our lives and holds a special place within our hearts..” As expected, it’s the Beats By Dre headphones that are getting the most attention this afternoon. Mainly, that’s because Beats By Dre are to headphones what the iPhone and the iPod are to music and smartphone lovers. Experts can argue that there are better devices made by other companies, however no one can deny that Beats By Dre are well made and popular with casual audio users.

Once the deal closes later this year, Dr. Dre and Interscope head Jimmy Iovine will go to work at Apple. Beats Music, the subscription music service Beats launched just recently, will effectively become the only Apple service to be available on other devices with a native app. There’s versions for Google’s Android and Microsoft’s Windows Phone operating system.