Apple acquires Shazam

Apple is acquiring the music recognition app Shazam in a deal reportedly worth $400m. Shazam was launched in the UK but - after a difficult period - recovered strongly once their app became widely used especially in the USA. They drive a lot of downloads to Apple Music and thus it is easy to see why Apple might be interested in buying Shazam to benefit from synergy gains. Apple calls the purchase of Shazam a "natural fit." The acquisition has to be seen in the context of the increasingly fierce battle for customers and revenues in the global music streaming industry.

Here are some links to tweets giving more background to the takeover deal