Apple is reportedly putting the final touches on an official deal to acquire Shazam, the music recognition app. TechCrunch reports that the deal could be finalized as early as Monday morning.
The company, founded in 1999, originally acted as an SMS service where users could identify songs and identify television shows and films. The company officially launched Shazam 2.0 for iPhone on July 10, 2008. Shazam has since expanded and in October 2016, Shazam announced that its mobile apps have been downloaded more than 1 billion times, and users have performed more than 30 billion “Shazams” since the application’s launch.
TechCrunch reports that various sources have reported conflicting information regarding the valuation of the merger, one valuing it at nine figures and another at $401 million.
Apple’s last major acquisition happened when the company purchased Beats for $3 billion.