Apple is officially purchasing Beats Electronics. The New York Times reported the sale worth approximately $3 billion is now official. The deal is expected to be approved in September of 2014.

Although the Beats brand will still exist separately from Apple, Beats co-founders Dr. Dre and Jimmy Iovine will join the Apple staff and work under Eddy Cue, Apple’s executive in charge of Internet services.

Beats is the number one headphones maker, bringing in more than $500 million in revenue in 2012. In January, the company enlisted Nine Inch Nails frontman Trent Reznor as chief creative officer of Beats Music, launching the streaming service curated to the listener.