June 23, 2018

Apple Inc Acquires Music Identification App Shazam For $400 Million

12 December 2017, 06:19 | Franklin Nunez

Apple Inc Acquires Music Identification App Shazam For $400 Million

Apple Inc Acquires Music Identification App Shazam For $400 Million

In its own statement, Shazam added, "We can't imagine a better home for Shazam to enable us to continue innovating and delivering magic for our users".

Neither side would officially say how much Apple had paid, but a figure of about $400m has been reported, less than half the $1bn the app was last valued at when it tapped investors for cash in 2015, The Guardian reports.

Apple has acquired Shazam, the company announced today. Shazam is an app that identifies music, movies, TV Shows, among other things, by listening to an audio clip or a visual fragment, which is something that can potentially improve Apple's music streaming service and possibly other products and services as well. Shazam is now one of the highest rated apps on the App Store, and allows users to discover new music by holding their smartphones near a speaker.

Apple which revolutionised music with the introduction of the the iPod and iPhone, said Shazam was a natural fit for its Apple Music streaming service. Currently, the app is holding around 1 billion downloads out of which nearly 80% are active regularly.

The tech giant did not disclose the size of the deal, though early reports of the acquisition last week estimated the price tag at $400m (£299m). Shazam helps you in getting the data of a music line which is being played near you.

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Apple will likely integrate Shazam with Siri, Apple Music, and iTunes to make its services more appealing to users and help them easily find new music. The music discovery app was also in talks with Snapchat and Spotify. Today, it's used by hundreds of millions of people around the world, across multiple platforms.

Shazam will be one of Apple's biggest deals in years.

Apple has made some other acquisition as well, like buying Beats for $3 billion in 2014 which became the basis for Apple Music.

Apple spokespeople did not elaborate about Apple's plans for the Shazam service, but the company mentioned that it is popular "across multiple platforms" in its statement, suggesting a possibility that Apple keeps the service operational.

Apple might be using Shazam as their exclusive product.

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