Telstra Digital Music Partner Aquired By HTC Company
The deal, which is Beats Electronics’ first acquisition comes only months after the Company split with their headphone manufacturer Monster who has now moved on launch a Diesel range of headphones.
David Hyman, founder and CEO of Mog, will assume the title of CEO and report directly to Luke Wood, Beats president and COO.
Mog’s music service will continue to operate as an independent company with no immediate changes to the service or impact on Mog users/subscribers, Beats said. Employees will continue to work out of its Berkeley, Calif. Offices.
The ad-supported Mog Music Network (MMN) is not part of the acquisition and will remain its own entity.
In a statement, Luke Wood, Beats president and COO, said: “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.”