HTC’s Beats Electronics close to buying MOG music service: Report
HTC’s Beats Electronics is tipped to acquire MOG, a music subscription service, for an undisclosed amount, according to a Reuters report. The two companies have been in talks for weeks and the acquisition could happen within the next fortnight. HTC has been rumored to launch its own music subscription service in order to differentiate its products from other Android vendors.
MOG has over 500,000 users but it is not clear whether HTC would be able to launch the service globally considering geographic license restrictions that music labels enforce on such services. HTC holds a controlling stake in Beats Electronics after it invested $300 million last year. At last month’s MWC, the fifth largest smartphone vendor in the world also opened APIs for third-part app developers to take advantage of Beats audio technology in their games and services.