Apple Has Acquired Shazam For A Rumoured $400 Million
Yesterday, Apple announced that it has acquired music recognition service Shazam, marking the company’s highest-profile purchase since it acquired headphone maker Beats for a confirmed $3 billion in May 2014. The financial details of the deal were not disclosed, but sources have suggested the deal could have been worth around $400m. The Shazam app first launched back in 2008 and, since then, it’s been downloaded more than 1 billion times and has become an integral part of other services like Snapchat and Apple’s Siri.
“We are thrilled that Shazam and its talented team will be joining Apple. Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS,” said Apple in a statement. “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.”
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