Apple confirms acquisition of Shazam

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The music recognition app has been courting Snapchat and Spotify as well, but the Cupertino-based tech giant won out in the end.

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

Apparently, social media company Snap Inc and video streaming service Spotify, the existing partners with Shazam, were reportedly said to have interest in acquiring the company.

After a few days of rumours surrounding Apple's possible acquisition of the British-founded Shazam, Apple has confirmed to BuzzFeed that it has acquired the firm and all of its assets. Shazam is an app that identifies music, movies, TV Shows, among other things, by listening to an audio clip or a visual fragment, which is something that can potentially improve Apple's music streaming service and possibly other products and services as well.

"We are excited to announce that Shazam has entered into an agreement to become part of Apple", Shazam said in a statement to The Verge. The Pixel constantly listens out for music so you can see what's playing near you with a glance at the home screen - no need to dive into apps or tap icons. Apple has not revealed the details of how it is going to use Shazam's assets after the acquisition. Since then, it has gone on for more than a billion downloads and features as one of the highest rated apps. "We have exciting plans in store".

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Founded in 1999, Shazam initially launched in 2002 in the United Kingdom, where the program was known as "2580"-the shortcode customers dialed to have music recognized".

The exact valuation of the deal has not been publicly disclosed, but given that yesterday's report was accurate, $400 million is likely in the right ballpark. With Shazam's technology seamlessly integrated into the Siri software underpinning Apple's iPhones, the ability of Apple's management team to have more control over how the software is used and create synergies for its iTunes and music segment appear to be a great opportunity for both parties in this transaction.

Shazam, one of the first apps to be popular globally, has been downloaded over 1 billion times and is used 20 million times a day around the world.

Shazam has been available for multiple platforms. Shazam launched new AR features earlier this year that could help Apple expand even more in that arena.

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