We all know that Shazam is a popular music-recognition app that lets you recognize music through the ears of your phone (microphone), and it is best used to identify songs, movies, TV shows and even commercials from short audio clips being played into the app.

Now, Apple announced and has confirmed that it already acquired Shazam. The deal was first reported by TechCrunch last week and as noted by Recode, the deal is reportedly worth $400 million,

The acquisition cost is far from the $1 billion Shazam was valued, but the company struggled from revenue loss, probably due to having a hard time finding a viable business model, having only $54 million in revenue in 2016.

The most obvious benefit that this acquisition will bring to Apple would be with Apple Music, and Shazam’s music and sound recognition (which is already integrated with Siri) could have deeper integration with Apple’s iOS, like what Google has done with its song recognition feature on the Pixel.

 

Source | via