Apple snaps up music streaming service

Pundits have speculated that Apple may use the acquisition to add sreaming features to its iTunes store

Apple has agreed to purchase music streaming service Lala.

The Silicon Valley-based service currently allows users to purchase access to streaming song files for a one-time cost as well as a service to offer songs from the user's own library as streaming titles.

Until now, the service was known best for its role in powering music search and purchase services for Google and Facebook.

Though little is being said about what Apple plans to do with the company, industry pundits have speculated that Lala's developers and technology could work on adding streaming features to Apple's iTunes music store.

While Apple offers the same one-time pricing for individual song purchases, it has thus far eschewed streaming services. Rather than offer subscriptions for online music that competitors such as Rhapsody offer, Apple has opted instead to let users pay for and download titles.

That approach has worked phenomenally well for Apple thus far. iTunes has become one of the largest music retailers in the world and the service serves up billions of downloads each year.