Apple has announced its acquisition of audio recognition company Shazam.
In statements to The Verge, both companies expressed excitement over the deal, earlier reported by Recode to be valued at $400 million.
We are thrilled that Shazam and its talented team will be joining Apple. 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.
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.
Shazam was appraised at $1 billion after its last funding round in 2015. The deal should close in a few weeks.
Apple Music may benefit from Shazam’s algorithm and server-stored troves of audio data that the company uses to recognize what a curious user is listening to. Shazam has also been working on augmented reality and virtual reality experiences for promotional packaging with artists and other brands. It’s also had a hand at some visual recognition software a la Google Lens.