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updated 5/9/2014 8:46:32 AM ET 2014-05-09T12:46:32

Looking to turn up the volume on its “cool” factor, Apple is reportedly cooking up a plan to buy Beats Electronics.

The consumer tech giant is reportedly in talks to buy the premium headphone maker for $3.2 billion in a deal that could be announced as soon as this week, sources told the Financial Times.

The move would mark Apple’s largest acquisition ever.

Related: Should You Buy an iPhone 5S Now or Wait For the iPhone 6?

Beats, which was founded in 2008 by hip-hop mogul Dr. Dre and record producer Jimmy Iovine, was once majority owned by phone maker HTC. HTC sold nearly half of its stake in July 2012 for about $150 million, and the remainder for $265 million last fall.

Beats also received a $500 million investment from private-equity firm Carlyle Group in September.

If a deal is inked, Apple would acquire Beats’ streaming service, which launched in January, and its headphone and audio equipment unit, the Financial Times reports.

Related: Steve Jobs' 13 Most Inspiring Quotes

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