Apple snaps up Shazam for $400 million

Shazam makes the namesake song recognition app that allows users to identify songs they have never heard before.

On Monday, Apple company issued a statement describing Shazam as Natural fit with its services.

Apple Inc. agreed to acquire music-identification service Shazam, taking ownership of one of the first apps to demonstrate the power of the iPhone, recognizing songs after hearing just a few bars of a tune. However, various media organisations have recorded that the Apple is paying about $400 million for the Shazam App.

Apple's purchase of Shazam might not grab eye calls immediately, but the acquisition could help prompt more people to buy its products - and buy into the ecosystem. Shazam app can be downloaded from the Google Play store and Apple Apps store.

Shazam wasn't very profitable on its own, but it used to earn commissions by sending users to Apple Music and Apple's competitor, Spotify.

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Some of Shazam's features conceivably could be blended into Apple's music streaming services, which has accumulated more than 27 million subscribers since the company created it in 2015. While it was one of the most downloaded apps back then, with the evolution of technology over the years, the "software running the app" became replicable quite easily. Apple has discussed many times that they have some bigger plans for music-related businesses. Google's version of the technology constantly monitors nearby music, displaying each song title on the phone's screen - a handy feature that may have led Apple to conclude it needed to offer a similar function in its iPhones in order to not appear behind the curve.

Terms of the deal weren't disclosed, but a person familiar with the situation said Apple is paying about $400 million for the United Kingdom -based startup. "We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement", the company told the publication.

So there are the primary reasons why Apple bought this music-recognition app. The company has developed a visual recognition tech and an AR platform for brands that could help the company improve its ARKit platform.

And both Apple and Shazam have been moving into the realm of augmented reality. Upon acquiring Shazam, Apple will begin working on using it to boost its features in Apple Music.

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