Today, Apple finally officially completed the acquisition of the music identification app ‘Shazam‘, which took half a year, and the $400 million transaction is finally over.
Shazam is a music detector application that can hear the music playing around and helps users get to identify the same online including lyrics. It already has more than 100 million downloads on the Android Google play store.
Apple announced its acquisition of Shazam as early as the end of 2017, but disclosed that the acquisition had a regulatory barrier in mid-2018 – the EU antitrust agency investigated the acquisition, causing Apple to complete the project until today.
Apple’s acquisition of Shazam amounted to $400 million, much lower than Shazam’s $1 billion valuations in the latest round of financing, and Apple did not discuss the strategy, it going to opt to deal with Shazam’s long-term plans.
But for the original Shazam users, the deal looks good, because Apple promises to remove ads from the Shazam app in future updates, and Shazam will be an ad-free app.