Beats Electronics LLC on Monday announced the acquistion of on-demand digital music service MOG.
In a public statement Beats president and COO Luke Wood revealed:
“Beats By Dre was born out of a need to restore the emotional connection with music that was lost by the degradation of sound from the digital music revolution, starting with the weakest link in the experience at the time—headphones. But it was never about just headphones. We’ve since expanded the Beats mission to every other link in the music experience chain – speakers, mobile phones, personal computers and automobile sound systems. With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience. With their talent and technology, the possibilities around future innovation are endless.”
MOG will continue to operate as an independent service and no changes are expected for MOG users in the immediate future.
According to Beats Electronics MOG employees will remain in their current office location in Berkeley, California while MOG founder David Hyman will report directly to Luke Wood.
In announcing the acquisition MOG’s CEO said:
“We’re thrilled to be joining forces with Beats, a company that’s committed at the highest level to the experience surrounding music delivery; the fit feels perfectly natural. MOG subscribers can expect continued excellence from the best music service in the market, and we look forward to putting premium music experiences in the hands of millions of music lovers everywhere.”
News of a potential buyout began circulating in March as current Beats Electronics majority owner HTC eyed the service as a way to expand on its mobile offerings. Minority stakes in the company are still held by Dr. Dre, Jimmy Iovine and the Universal Music Group.