It has finally been confirmed that music streaming service, MOG, has been acquired by Beats. Details of the acquisition aren't being made available to the public, but GigaOm initially reported that the price could have been hovering around $14 million, but sources close to MOG later said that the number was "significantly higher".
USA Today spoke to MOG founder and CEO David Hyman over e-mail, where he said:
The addition of MOG's music service to the Beats portfolio will provide a truly end-to-end music experience.
It's definitely an interesting move, with big players like Spotify being huge competition, and very established. But Beats' relationship with HTC will help them. Selling smartphones with Beats headphones and MOG trials with discounted subscriptions for example, could very well be the future for HTC.