Apple Buys Shazam In $400 Million Acquisition

The latest tech company to be purchased by the world-renowned corporation is music recognition service Shazam.

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It's not exactly uncommon for tech corporations to buy out competitors in order to use the competition's technology for their own devices. Such is the case with Apple, who recently purchased popular music recognition service Shazam, in a $400 million acquisition that will likely serve to expand the capabilities of voice assistant Siri.

As revealed by TechCrunch, the latest acquisition counts among one of the largest made by Apple, who previously spent the same amount of money to buy out NeXT and reclaim former CEO Steve Jobs back in 1996.

Unfortunately for shareholders, the buyout of Shazam comes in at a considerably lower price than the company was valued just two years ago, as the company was valued at $1 billion during a funding round in 2015.

Still, music recognition is a popular feature for many voice-activated assistants, with other freebie apps like Soundhound performing the same sort of service for mobile users who don't rely too much on Google, Amazon, or Apple's own voice-activated functions.

It's not exactly clear what Apple plans on doing with its acquisition of Shazam — it may be that an expansion to Siri is in mind, or that Apple might build functions based on the Shazam infrastructure for use with the company's upcoming smart speaker, the Apple HomePod. Speaking in a statement, however, an Apple spokesperson did state that the two companies are a "natural fit" and that the teams already have specific plans in mind.

"We are thrilled that Shazam and its talented team will be joining Apple," the Apple spokesperson said. "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."

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From The Chatty

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    December 12, 2017 4:10 PM

    Kevin Tucker posted a new article, Apple Buys Shazam In $400 Million Acquisition

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      December 12, 2017 4:13 PM

      The Shaq movie?

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      December 12, 2017 4:16 PM

      All the cool kids are using Hound now anyway

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      December 12, 2017 4:35 PM

      That is a lot of money.

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      December 12, 2017 4:50 PM

      I love Shazam but that valuation seems crazy.

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        December 12, 2017 6:08 PM

        Good for those guys cashing out

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      December 12, 2017 4:53 PM

      Do people still use Shazam? Have they moved beyond just telling you the song that's playing on the radio?

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        December 12, 2017 5:23 PM

        I still use it quite often. Yeah,all it does is recognize songs,but it's the best at what it does to the point that it's kind of scary. It recognized a Talking Heads song (This Must Be The Place) that was on Agents of SHIELD in less that a second for me.

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          December 12, 2017 5:25 PM

          You can hum a song into Sound Hound and it will recognize it, does Shazam do that too?

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      December 12, 2017 5:09 PM

      Hmm. Wonder if apple is doing the purchase to bulk up Siri.

      I bet shazam has some tasty audio recognition patents

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      December 12, 2017 5:11 PM

      couldn't they have just wrote 1 line of code and made their own and put shazam out of business?

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        December 12, 2017 6:05 PM

        I believe they have already been licensing Shazam for Siri for a year or two now as is.

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      December 12, 2017 5:26 PM

      The app that tells you what song is playing? I mean, I havent used that in like 5 years at least. But cool I guess.