Apple confirms Shazam deal, Apple shares move higher

Apple confirms Shazam deal, Apple shares move higher

Apple confirms Shazam deal, Apple shares move higher

However, Apple's fast-growing streaming service and acquisition of the music recognition app might help in getting a strong user base.

The official statement reads: "Apple Music and Shazam are a natural fit, sharing our passion for music discovery and delivering great music experiences to our users". Shazam app responded with a text message containing the name of the artist and the title of the song.

If the reported valuation of the deal turns out to be true, then the acquisition cost is far less than the $1 billion valuation of Shazam during its last funding round.

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"Spotify has made the discovery of new music front and centre of what makes it a compelling proposition", said Mark Mulligan, from the consultancy Midia Research. All you need to do is type the "Shazam" button on the app and it will identify the song it hears after a few seconds. Also, Shazam's music and sound recognition, which is already integrated with Siri, could gain a deeper integration with iOS, much like Google has done with its song recognition feature on the Pixel. "We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement". And this for sure which Apple will try to do in next steps.

On Monday, Apple said that it would buy Shazam in a fresh bid to secure an edge in the intensifying battle of streaming services, as Spotify moves towards a public listing. It also features augmented reality technology that could be one of the reason behind Apple's attraction as the Cupertino giant has been heavily investing in AR in recent years, especially with the launch of its ARKit platform this year.

Shazam's conversations with Apple began the following month, and they became exclusive about two months ago. "Today, it's used by hundreds of millions of people around the world, across multiple platforms", Apple's statement read, according to TechCrunch. The first that comes to mind is making things easier with Apple Music, enabling an even deeper integration and improving the overall experience.

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