Dr. Dre's Beats Electronics may be on the verge of a major deal with Apple.

According to the "Financial Times," Apple is close to purchasing Beats for a reported $3.2 billion. 

Sources close to the talks between the two companies say a deal could be announced as soon as next week, however, there are a number of key details that still need to be hashed out.  

If it ends up going through, the purchase would be Apple's largest acquisition.

Earlier this year, Beats launched its own streaming service, Beats Music, which directly competes with iTunes Radio and Pandora.  

Dr. Dre and Jimmy Iovine founded Beats Electronics in 2008.