RadioOnFire.com - It’s official: Apple is buying the music recognition service Shazam. “We are thrilled that Shazam and its talented team will be joining Apple,” the company said in a statement sent to Variety.
“Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS,” the statement continued. “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.”
Additionally, 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. ”
Financial details of the acquisition weren’t disclosed by Apple, but the purchase price is reportedly around $400 million. Techcrunch was first to report about the acquisition Friday. Shazam was at one point valued $1 billion, and has raised more than $143 million from investors.
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