Dr. Dre's popular headphone company, Beats Electronics, has officially acquired MOG, a digital music service for streaming music.
MOG, which offers music to stream of the latest releases on-demand (the service has a catalog of 16 million songs), has joined forces with the Beats Electronics company in an effort for the company to continue moving forward.
CEO Luke Wood told USA Today, "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 music services is a vital part of that ecosystem."
Although all details on the acquisiton were not revealed, it is reported that MOG will continue operating as it has been.
In a press release, Wood stated, "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."
