HTC MOG Acquisition Tipped
It's being reported that HTC has acquired a subscription-based music service called MOG, a decision that would support HTC's desire to start pushing more into the content side of the mobile market. MOG had been unable to compete with the much more popular serivce Spotify and it was assumed that the company was aggressively looking to be acquired by someone to remain relevant.
According to the report, it was the Beats Audio division of HTC that finalized the acquisition, which would cerainly make sense. Terms of the deal were not spilled, but the two companies allegedly began firming up the negotiations a couple weeks ago, and the deal has for all intents and purposes been completely inked and finalized. Neither HTC nor MOG has made an official comment about this rumored acquisition deal.
It has previously been rumored that HTC wanted to launch its own music subscription service. The business model of a supscription service has been tested and failed for many companies, since users want to own their music and they want it to be portable. But if it's a platform that lives and breathes on their phone, that might be a different story, especially for consumers who use their phone as their exclusive music player anyway.
[via GigaOM]