Yesterday we heard a rumor that Apple was buying Shazam, both companies have now confirmed the acquisition. Neither company has mentioned any details about how much Apple paid for the acquisition, although rumors suggest it is around the $400 million mark.
Both companies released a statement about the acquisition, Apple has not given an exact details on what their plans for the company are. Here is what Apple had to say about its latest acquisition.
We are thrilled that Shazam and its talented team will be joining Apple. 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.
Shazam had the following to say about the acquisition.
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.
It is not clear as yet exactly what Apple has planned for its latest acquisition, the service is built into a number of services like Apple Music, Snapchat and others.
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