• Welcome to OnlyTech Forums
    An online community for the tech enthusiasts!
    Log in or Register

Apple acquires Shazam

Jithin91

Member
Joined
31 Jan 2017
Messages
2,017
Reaction score
3,375
Apple has bought Shazam, the music recognition app. The two companies say they have "exciting plans in store".

Neither company has confirmed the value of the deal, though it's thought to value Shazam at around $400 million. Other tech companies including Snapchat and Spotify are thought to have expressed interest in buying the London-based music app, which is being sold at a major discount compared to recent valuations.

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 is one of the world's most popular apps, used by hundreds of millions of people each month to instantly identify music that's playing and see what others are discovering.

Apple confirms it has acquired Shazam
 

Sai Jai

Member
Joined
5 Jan 2015
Messages
38,338
Reaction score
24,730
BRUSSELS: The European Union said on Tuesday it will probe tech giant Apple 's plan to buy leading song recognition app Shazam because of fears the deal may "adversely affect competition."

Apple announced the deal with London-based Shazam, worth a reported $400 million, in December in a fresh bid to secure an edge in the intensifying battle of streaming services.

The European Commission said it launched the inquiry at the request of EU states Austria, France, Italy, Spain and Sweden, and non-EU Norway and Iceland, which form part of the affiliated European Economic Area.

"The commission considers that the transaction may have a signficant adverse effect on competition in the European Economic Area," it said in a statement.

The deal did not meet the "turnover thresholds" for the European Commission -- the EU's executive arm and anti-trust enforcer -- for Brussels to launch a probe by itself. Instead it had to wait for Austria to lodge an initial request, which was followed by the other states.

EU to probe Apple plan to buy music app Shazam - ET Telecom
 
Top Bottom
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock