We've been hearing multiple reports that MOG has been purchased by Beats Audio, but as of yet there's been no official confirmation. That could be because the final purchase price is still being negotiated. GigaOm reported this morning that the company had been picked up for just under $14 million, little more than half of the $25 million it raised in venture capital funding. A source later told the publication that the deal was going to be much larger than that, but that negotiations on the final number were still ongoing. The money for the acquisition is said to be coming straight from HTC, which invested $300 million in Beats last year, garnering it a 51-percent stake in the headphone manufacturer.

No matter the final figure, the amount is likely to seem insignificant in the wake of Spotify's recent success, with GigaOm also revealing that the latter company is raising new funding at a requested valuation of between $3.5 to $4 billion. While it's been known that the two music services weren't competitive in terms of subscribers — MOG CEO David Hyman has stated that MOG has 500,000 paid subscribers, while Spotify boasts three million premium users — the respective numbers here are still striking. Then again, it's likely what makes MOG such an attractive target for HTC and Beats in the first place. By using a music streaming service as a value-add to its mobile devices, HTC doesn't need a large existing subscriber base as much as it needs a pre-existing infrastructure to quickly bring its own branded service to market.