Apple to Acquire Shazam

Apple is reportedly buying Shazam, a music recognition app last valued at $1 billion
AAPL Stock Rebounds After Apple Buying Shazam Report
Author

09 December, 2017

Here's a pairing we didn't quite see coming: Apple is close to buying Shazam, the music recognition app, according to a new report.

Sources say a deal could be announced as early as Monday, in what is rumoured to be a nine-figure deal, while another source informs the publication it could be around $401 million Dollars.

Apple is working on a deal to purchase the music identification app Shazam. The company also lost approximately $22 million the year before that.

Shazam has been rumored to be an acquisition target this year as its losses declined. Shazam's iOS app was also one of the very first apps on the Apple App Store when it launched in 2008, and it remains one of the most popular apps on the platform.

Its augmented reality brand marketing service lets you discover content based on pictures that you snap with the app.

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The new features allow Shazam to build more strategic partnerships and drive engagement with the app. Since its partnership with Beam, Shazam has partnered with a number of other companies and artists to create similar AR campaigns within the app.

Reps for Apple and Shazam did not immediately respond to requests for comment. Apple frequently purchases smaller tech companies to scrape the technology into its own products.

Of course, nothing has been confirmed either by Apple or Shazam. "They have to find ways to differentiate their music offerings. and Shazam gives them a way to add more value to their music customers".

The deal will be announced next week, according to reports.


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