Apple is about to close a deal to purchase the popular music identification app Shazam.
According to TechCrunch, – which reported to be close to the parties involved – the price of the deal will be of around $400 million, although final details are expected to be announced over the next few days. In 2015, Shazam’s post-money valuation was said to be $1.02 billion.
Neither Shazam or Apple have disclosed anything on the sale, but the arrangement will be soon concluded.
Shazam, launched in London in 1999, reached one billion downloads in September 2016. The revenue reported for that year was of of $54 million. Collaboration between the two organisations is not new, since the platform already drives users to Apple Music and is compatible with Siri.