San Francisco, Dec 9: Tech giant Apple is reportedly buying popular music recognition app Shazam for a likely amount of nearly $400 million, according to media report.
The iPhone maker may officially announce the deal on Monday,IANS qouted citing TechCrunch report.
“One source describes the deal as in the nine figures; another puts it at around $401 million. We are still asking around,” the report asserted.
Made by Shazam Entertainment Ltd, a British app development company, Shazam has hundreds of millions users who instantly identify music that’s playing and see what others are discovering.
Shazam, that reports over one billion downloads, allows music lovers to identify any song, TV show, film or advert in a jiffy, by listening to an audio clip or a visual fragment.
Launched in 1999 as an SMS code service, Shazam reportedly made $54 million in revenues in the last fiscal year.
However, there is no official information regarding the deal, Shazam CEO Rich Riley and Apple were yet to comment.