SAM Client Beats Electronics announced that is has agreed to acquire the award winning on-demand music service MOG. This is a milestone for Beats as it is their first acquisition. SAM attorney Scott Galer represented Beats in this transaction. To read the full press release, click here.
About Beats Electronics, LLC -
Established in 2008 as the brainchild of legendary artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics is the parent company of the Beats™ by Dr. Dre™ line of high-quality headphones, Beats Audio™ HD-sound systems, and the MOG digital music service. The company's mission is to build quality music experiences for all elements of the digital music ecosystem—including headphones, devices and services—so that fans can hear music the way artists intended it to sound in the studio. This includes partnerships with computer manufacturer HP, automotive manufacturer Chrysler Group and mobile phone manufacturer HTC Mobile. Led by CEO Jimmy Iovine and President & COO Luke Wood, Beats Electronics is based in Santa Monica, CA. For more information, please visit http://beatsbydre.com/.
About MOG -
MOG's all-you-can-eat, award-winning listening service provides access to a vast library of over 15 million songs through its mobile apps on iPhone, iPad, iPod Touch and Android, on the Web, through consumer electronic devices, Internet connected TVs and Blu-ray players and in the car. MOG surpasses all other music listening services in its ease-of-use, discovery features and audio quality. Founded in June 2005 by David Hyman, former CEO for Gracenote, and headquartered in Berkeley, California, MOG investors include Menlo Ventures, Balderton Capital, Simon Equity Partners, Universal Music Group and Sony Music. Grammy-winning record producer Rick Rubin, named by TIME Magazine as one of the "100 Most Influential People in the World," is a member of the MOG Board of Directors.