Apple Plans to Acquire Shazam

The firm is negotiating the acquisition whose software helps users identify songs by pointing their phones to an audio source

By Notimex Monday, December 11, 2017 comments

The firm is negotiating the acquisition whose software helps users identify songs by pointing their phones to an audio source

 

 

The technology company Apple is negotiating the acquisition of Shazam Entertainment Ltd, whose software helps users identify songs by pointing their phones to an audio source.

 

Apple Plans to Acquire Shazam 2Photo Credits: Twitter Clipset 

 

Users of the Apple iPhone with the Shazam application installed can say: “Hi Siri, what is that song?” And the application will identify it. But Shazam has other characteristics, such as the ability to identify television programs, which still do not work with Siri, Reuters reported.

 

For its part TechCrunch previously reported on the talks and wrote that Apple could pay about 400 million dollars for Shazam and that an agreement could be signed next week.

 

Apple Plans to Acquire ShazamPhoto Credits: Twitter Dario Furente

 

According to information gathered by Reuters, Shazam has obtained 143 million dollars from DN Capital Limited, Institutional Venture Partners and Kleiner Perkins Caufield & Byers, among others, throughout its 18-year history, according to PitchBook, a firm that tracks investments of private capital.

 

The value reported by TechCrunch could be well below the more recent $ 1 billion Shazam valuation reported by PitchBook.

 

Apple Plans to Acquire Shazam 3Photo Credits: Twitter ADLSZone 

 

An acquisition of Shazam could help boost Apple’s musical efforts by making it easier for users to find songs and add them to playlists in their Apple Music service. By mid-2017, Apple Music had 27 million subscribers, behind the Spotify music streaming service that has 60 million users.