Apple Set To Buy Shazam For $400 Million

The deal will be announced next week, according to reports.

Apple is working on a deal to purchase the music identification app Shazam. 

TechCrunch broke the story today, citing sources close to the parties involved. Apple is finalizing the deal, which is expected to be announced on Monday with a price of around $400 million (£300 million), though the details are still up in the air. (TechCrunch also notes that Shazam's latest valuation was around $1 billion, in 2015.) 

It's the latest music industry shakeup this week, after yesterday's revelation that YouTube is preparing to launch its own music streaming service to compete with Spotify and Apple Music. Meanwhile, Spotify is preparing to take its company public. 

Bron: Resident Advisor

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