Apple, My Only Question is: Why?

Apple on Wednesday confirmed it has acquired the headphone maker and music streaming service Beats.

In a press release, Apple said it acquired the company for approximately $2.6 billion in cash, plus $400 million in stock that will vest over time.

Beats co-founders Jimmy Iovine and Dr. Dre will join Apple as part of the deal, the iPhone and iPad maker said.

The deal is expected to close in the fourth quarter — around September — the same fiscal three-month reporting period when the new iPhone is expected to be unveiled, according to earlier reporting.

The Beats purchase comes after a leak of the news earlier this month.

The final price is significantly less than the $3.2 billion that was originally published by the London's Financial Times earlier this week.

Beats will remain a separate brand from Apple's, and the company will offer both Beats' streaming music and headphones, along with its own branded headphones.

Apple's chief executive Tim Cook said in prepared remarks: "Music is such an important part of all of our lives and holds a special place within our hearts at Apple."

"The addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years," according to Apple's online software and services chief Eddie Cue.