Apple is in negotiations to buy audio company Beats Electronics for an estimated $3.2 Billion, according to Business Insider. The deal could be announced as soon as next week.

Business Insider also points out that, while Apple rarely makes such large purchases of other companies, they recently opened exploratory talks to launch their own online streaming platform.

Established in 2008 by Dr. Dre and Interscope Records chairman Jimmy Iovine, Beats deals in a wide variety of audio products including headphones, speakers and stereos, among others.

Nine Inch Nails’ Trent Reznor teamed up with Beats to create Beats Music, the newest streaming service designed around tailoring musical tastes and moods to the listener.