This year Shazam reported revenue of £40.3 million ($53.3 million) which is not all that good when you consider that Shazam is a British unicorn valued at $1 billion.
"Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users". Its simple yet useful function - identifying a song that's playing on the radio or elsewhere - has earned it more than one billion downloads since it was released for the iPhone in 2008.
"We are excited to announce that Shazam has entered into an agreement to become part of Apple". Also, said that we have exciting plans in the store and looking forward to combining with Shazam. Shazam app can be downloaded from the Google Play store and Apple Apps store.
The company is also diversifying into visual recognition for marketing.
Apple buying anything means it's going take that thing to the next level.
"Spotify has made the discovery of new music front and centre of what makes it a compelling proposition", Mark Mulligan, an analyst with Midia Research, told the BBC.
"Shazam essentially gives it a shortcut to having a massive database".
Apparently, social media company Snap Inc and video streaming service Spotify, the existing partners with Shazam, were reportedly said to have interest in acquiring the company. As per the reports, the company has does not disclosed the price of the music app acquisition on Monday. Apple will nearly certainly change that to make it exclusive to Apple Music. The move makes total sense, especially given that Apple has almost $300 billion burning a hole in its pockets, but the big question is why the move came right now.
Instead of closing the services of Shazam, Apple might be charging high for user diversion to Google.
To let Siri replicate the trick or add innovations of its own, Apple might have felt it needed to bring Shazam in-house.
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