Printed from http://www.electronista.com

Beats paid $14 million in MOG acquisition

updated 07:10 pm EDT, Tue July 3, 2012

Beats will take streaming service, leave blog

Beats recently-announced acquisition of music streaming service MOG cost the music peripheral company $14 million. The deal was announced yesterday, and it was apparently negotiated in part by phone maker HTC, which owns a portion of Beats. The deal will see parts of MOG coming under direct control of Beats, while other aspects of the company will remain relatively autonomous.

MOG's music service will continue as an independent company, and the MOG Music Network will remain its own entity. David Hyman, MOG founder and current CEO, will remain in his post, but he will now report directly to Beats President and COO Luke Wood.



The deal will likely see MOG's music service heavily integrated into HTC's device offerings, as is already the case with Beats technology. HTC has said before that the company is focused on providing complete experiences, and the music streaming acquisition will allow it to better compete with Apple and Samsung, both of which have their own music offerings.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News