One of 2017′ s biggest and last acquisition has been made, and both companies are ‘Siri’ous about doing something good together.
It’s official that Apple is buying the mobile music recognition service, Shazam and we’re witnessing a confirmation from an Apple spokesperson, saying ‘They are thrilled that Shazam and its talented team will be joining Apple.’
The statement continues as follows:
Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS. 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.
The iPhone-company is likely interested in Shazam’s AR technology, and they’re thinking it could help improve its own offerings. Shazam offers visual recognition technology and an AR platform for brands that could help in the improvements of a Google Lens-type feature and improve its ARKit capabilities.
Details of the acquisition weren’t disclosed by Apple in finance, but the buying price is reportedly around $400 million. Shazam was at one point valued $1 billion, and has raised more than $143 million from investors.
The UK-based company was founded in 1999 and and launched as the first phone-based music recognition service, which let users identify songs by calling into a special number. Now, they’re better known for their music recognition apps, which have been downloaded more than 1 billion times throughout a countable number of mobile platforms.
Additionally, Shazam released a 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.
Eventually the Shazam deal has been confirmed, the app will collaborate with Spotify to be absorbed into Apple’s Siri, as a new ecommerce utility. Users will be able to ask Siri to identify music or a part of dialogue, and informed via Apple Music or iTunes.
Apple is a company that has a lot of interest in the music industry, as we know that they’ve already acquired the famous headphones brand, Beats by Dre.