Just weeks after announcing a partnership with Telstra to expand internationally into Australia, online music streaming website MOG has confirmed it has been acquired by Beats Electronics for an amount not being publicly disclosed.
MOG, a music service that has been online since June 2005 and boasts a library of more than 15 million songs and offering access through applications for the web, iPhone, iPad and Android devices. It also has close integration with numerous consumer electronics devices such as Internet-enabled televisions.
In a statement today Beats and MOG welcomed the acquisition, which marks the first acquisition ever for Beats Electronics and leaving MOG to focus on providing a premium music service. The announcement will allow MOG to focus on its core business once more, clearing the overhanging prospect of a potential sale that had been floating over the company for some time now.
"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," Beats President and COO, Luke Wood said in a statement today.
"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 CEO David Hyman said the company was "thrilled" to be acquired by Beats, and that "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," he said.
The acquisition won"t cover the MOG Music Network - a portal for music content online and a music-centric advertising network - and for the time being, MOG"s music streaming platform will remain independent of Beats and continue to function as normal for subscribers and users alike.