Shazam has agreed to a takeover by Apple for a reported $400 million. The deal will soon see Shazam under Apple’s umbrella of apps.
Shazam helps people discover, interact with and share video, audio, or printed content, across devices and media over 20 million times a day. In exchange for the $400M, and through a strategic merger of Shazam’s services with these of Apple Music, Apple will get to reach 1 billion users that have already downloaded the app. Current Shazam users will also get to enjoy its services in an ad-free environment.
“Apple and Shazam have a long history together. Shazam was one of the first apps available when we launched the App Store and has become a favorite app for music fans everywhere,” said Oliver Schusser, vice president of Apple Music. “With a shared love of music and innovation, we are thrilled to bring our teams together to provide users even more great ways to discover, experience and enjoy music.”
It’s the second biggest acquisition Apple has performed in recent years; it previously acquired Beats for $3 billion in 2014. And while the company is focused heavily on hardware manufacturing, the latest news demonstrates a clear path to having more control over the services that run on its devices.