Apple snaps up Shazam in £300m deal

Apple snaps up Shazam in £300m deal

The acquisition of Shazam will now help the Cupertino-based technology giant to fulfil its ambitions in the digital music market.

Apple has not disclosed the price, but multiple reports suggest that the company has bought the application for around $400 million. If that's the case, it would be one of the priciest acquisitions in Apple's history.

"We are thrilled that Shazam and its talented team will be joining Apple", an Apple spokesperson told The Verge.

Apple has said that Shazam is a "natural fit" for its streaming music platform.

Meanwhile, Shazam said: "We are excited to announce that Shazam has entered into an agreement to become part of Apple".

Founded in 1999, Shazam initially launched in 2002 in the United Kingdom, where the program was known as "2580"-the shortcode customers dialed to have music recognized". It was only available at first to users in the United Kingdom, who would dial "2580" and hold their cellphones up to music.

In November, Shazam had about 175 million monthly active users globally across iOS and Android, according to research firm App Annie. The app has been downloaded for about a billion time across the world.

A 6-year-old boy Reviews Toys on YouTube, Makes Millions
The channel now has over 10 million subscribers, which generates a monthly advertising revenue of around $1 million. The video featured Ryan opening and reviewing a box containing more than 100 toys from Pixar's " Cars " series.

Apple buying anything means it's going take that thing to the next level.

Following on from yesterday's report, Apple has confirmed that it is acquiring Shazam. Now, Apple could find a way to cut Spotify out of the equation altogether.

"Shazam essentially gives it a shortcut to having a massive database".

It has come to an agreement with the London-based service late on Monday, Tech Crunch reported. If they want to exclusively integrate it into Apple Music, it would cut into Spotify and other streaming giants referrals. Apple will nearly certainly change that to make it exclusive to Apple Music. In 2014, it acquired Beats Music and Beats Electronics for $3 billion.

To let Siri replicate the trick or add innovations of its own, Apple might have felt it needed to bring Shazam in-house.

The service has 27 million users and competes with Spotify, which has 60 million.

Apple may stop the user diversion to Google Play Music which will cut nearly 1 million daily users of Google's online streaming platform.

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