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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.

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.

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