Apple confirmed on Monday that it would buy music recognition app Shazam.
News of the deal was first reported by TechCrunch on Friday. No price was disclosed, but Recode has reported the price around $400 million, a significant discount from its last valuation, which was reportedly around $1 billion.
“We are thrilled that Shazam and its talented team will be joining Apple. Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS,” the company said in a statement.
“Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users,” it said.
It’s one of Apple’s largest deals to date, though still a drop in price from the $1 billion Shazam was valued at during its last funding round.
Shazam is already integrated into Apple’s Siri voice assistant, but the deal likely signals Apple’s interest to expand its use of the technology.
Apple could potentially use Shazam to add a feature like one found on Google‘s new Pixel 2, which automatically shows a user which song is playing right on the lock screen. This means a user doesn’t have to open another app, such as Shazam.
Source: Tech CNBC
Apple to buy music recognition app Shazam