Apple has acquired Shazam, the popular music identifying service, in a deal reportedly worth "around" $400 million United States dollars.
On Monday, Apple company issued a statement describing Shazam as Natural fit with its services. The Cupertino, California, company declined to say whether Shazam's app will still be available after the deal closes.
Apple has bought Shazam, one of the early hit iPhone apps. The "nifty-song detection technology" basically allows users to identify songs, movies, commercials and TV shows by playing short audio samples.
'We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement'.
Following its debut as a free smartphone app in 2008, the music-matching service took off; by the autumn of 2014, Shazam exceeded 20 billion tags and 100 million monthly active mobile users.
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Scan your eyes over Apple's just-published list of the year's most popular iPhone apps, and there's one notable omission: Shazam.
What do you think about Apple's acquisition of Shazam? If that is the price, it likely represents a good deal for Apple - Shazam was valued at $1 billion at its last funding round in 2015. It is now unknown what the company plans to do with Shazam, only telling BuzzFeed "we have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement". (NASDAQ:AAPL) has entered into discussions to buy digital music identification application company Shazam Enteratinment Ltd. for a reported $400 million. Sometimes it happens that we do not recognize the music. There's also speculation that Shazam's music-recognition feature might be added to Apple's long-delayed HomePod intelligent speakers.
That's a big deal: As of September, Spotify had more than four times the users Apple Music did, according to TechCrunch. "Today, it's used by hundreds of millions of people around the world, across multiple platforms", he continued. Upon acquiring Shazam, Apple will begin working on using it to boost its features in Apple Music.
While Shazam is best known for its song-matching capabilities, Apple could also benefit from Shazam's increasing push into augmented reality technology.