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Apple reportedly may buy music identifying app Shazam for $400M

Apple reportedly may buy music identifying app Shazam for $400M

That's according to a new report over on TechCrunch, which says Apple plans to announce the buyout on Monday if all goes smoothly.

Apple is known for buying up other companies, though Shazam is certainly no small startup. The deal isn't quite finalized, per a new report detailing the alleged business matter, but reportedly will be any time now followed by an official statement next week.

Buying out Shazam would also rid Apple of having to pay Shazam for click-throughs to iTunes purchases like it does now. In recent years, rival apps like SoundHound have started to steal Shazam's thunder, and Android phones can natively identify songs using Google Search.

As Spotify continues to inch towards a public listing, Apple is making a move of its own to step up its game in music services. The purchase is the latest acquisition for the world's largest tech company.




In September previous year, Shazam - which also identifies TV shows, films and advertisements - hit 1 billion downloads and had for the first time achieved profitability, thanks largely to revenue from advertisers. One source puts the price of the acquisition around US$401 million, although Shazam was once valued at US$1 billion dollars. The app can listen to and identify audio in music tracks, TV content, and advertisements.

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

A spokesperson for Shazam wasn't immediately available for comment. Right now, Shazam integrates with the app, but that may change if Apple takes ownership.

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