Beats Electronics has finally announced that it will acquire MOG music service. Rumors have been swirling that Beats Electronics
would be making the purchase for a while now. The two companies came
forward today with the official announcement, but haven’t disclosed any
details of acquisition.
Beats Electronics CEO Luke Wood said, “Beats was created as a response to the complete
erosion of the music experience. Our whole reason for starting Beats
was to try to bring emotion back into that experience. We believe the
music services is a vital part of that ecosystem.” MOG has been around since 2005 and offers free streaming music as well as subscription service to smartphone users.
It would be easy to imagine Beats Electronics selling headphones through the music service and possibly offering free music service trials with its headphone products. Beats Electronics split from Monster several months ago and is now its own company. The MOG purchase is its first acquisition.
via USA Today
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