Following reports of a potential takeover at the weekend, Apple has today (12 Dec) announced the acquisition of song-recognition app Shazam for around £300m.
The takeover of Shazam marks one of the largest ever acquisitions for Apple, with the company hailing it a “natural fit” for its Apple Music service.
However, it is believed the £300m being reported is some way off the firms valuation, with the tech outfit receiving a billion-dollar valuation just two years ago.
“Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS,” Apple said in a statement released today. “Today, it’s used by hundreds of millions of people around the world, across multiple platforms.
“Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”
Shazam released the following statement: “We are excited to announce that Shazam has entered into an agreement to become part of Apple.
“Shazam is one of the highest rated apps in the world and loved by hundreds of millions of users and we can’t imagine a better home for Shazam to enable us to continue innovating and delivering magic for our users.”