Report: Apple to acquire Shazam
Apple is getting close to acquiring song recognition app Shazam, sources tell TechCrunch.
Why it matters: Shazam and Apple already have history together—in 2014, the two inked a deal to let Apple's Siri identify songs playing via Shazam's technology. An acquisition would be a natural deepening of that partnership that could both help iOS strengthen its sound-indentification tech and help drive more song purchases via iTunes (which it already does) and convert more users to the Apple Music subscription service.
- Shazam's tech can also help bolster Apple's HomePod, a music-focused, Siri-powered home speaker it unveiled in September
Terms of the deal are unclear, though TechCrunch reports it could be valued at about £300 million ($401 million), much lower than the $1 billion-plus valuation Shazam commanded when it last raised funding.