The High Tech Computer Corporation is gearing up to obtain a better position in today's busy market of mobile devices. The Taiwanese manufacturer is rumoured to have made a new acquisition, through a subsidiary, and this time - in the music department.
According to a hot rumour published recently by BusinessInsider, quoting "a single source", Beats Audio acquired MOG, a subscription music service. Beats Audio, which is a manufacturer of audio equipment and owns the technology designed to enhance compressed digital music, was invested within last year by HTC, for a reported $300 million.
The Taiwanese phone maker didn't waste any time in integrating Beats technology into its products. Now, HTC has tapped into another music related market. MOG has currently 500,000 active users, according to information given by David Hyman, MOG's CEO to Reuters.
There isn't any information about how many people of the user base are paying for the music services. However, compared to the top dog Spotify, which has over 3 million paying customers - MOG is still a rather modest company.
So far, David Hyman was reluctant to provide further details related to the rumoured acquisition, but he admitted negotiating with different potential investors.