Beats Audio is branching out from audio hardware into the realm of streaming music thanks to the purchase of MOG music streaming service.

While rumors of the deal surfaced earlier this year, Beats confirmed its first acquisition paying nearly $10 million for MOG.

MOG users shouldn't notice much of a change, at least not right away. Beats announced that MOG will continue as an independent service, with no immediate changes planned.

The service itself is one of the top ranked music streaming services in the U.S. along with the likes of Spotify and Rdio, taking either second or third place depending on who you ask.

It houses more than 15 million tracks with similarly priced ad-free and mobile subscription options. Like its competitors, MOG is accessible through apps on iOS and Android along with a desktop client and browser player.

HTC enters music streaming

HTC, which acquired Beats Audio for $300 million, was already rumored to be plotting its own music streaming service.

That service could still materialize taking some cues from its new acquisition, though the more likely option now is for HTC to incorporate MOG into its Beats Audio-enabled headsets.

"With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience," said Beats president Luke Wood.

"With their talent and technology, the possibilities around future innovation are endless."