TechCrunch reports that Apple is seeking to buy music discovery service Shazam, for $400 million (about £300 million).
'Sources close to the matter' told the site that an official announcement could be made as soon as today (11th December), with a deal said to have been finalised over the week.
While one of the sources describes it as a "nine-figure" acquisition, another says Apple is planning to pay $400m for the service. This latter number has been backed up by Recode, which notes that a deal would be a "significant discount" from Shazam's last round of funding, which valued the firm at around $1 billion in 2015.
Neither Apple nor Shazam have commented on the speculation, but the deal likely would make sense for both parties.
Shazam, an app which lets you identify songs, movies, and TV shows from an audio clip, is already tightly-integrated with Apple's Siri, allowing iPhone users to identify songs by saying "Hey Siri, what's that song?"
Shazam's other features, such as the ability to identify television shows, have not yet been integrated with the iOS assistant, and it's likely that Apple is keen on the firm's new augmented reality tech that lets users scan books and advertisements, for example, which could then launch 3D animations, product visualisations, and 360-degree videos.
The acquisition would also mean that Apple would save money on the commissions that it pays Shazam for sending users to the iTunes Store, which made up the majority of Shazam''s revenue in 2016 and drove 10 per cent of all digital download sales, according to The Wall Street Journal.
What's more, if Apple was to shut down the app, it would be a blow to the likes of Google Play Music and Spotify, where Shazam sends over 1 million clicks per day.
Update: Apple has confirmed that it will 'combine' its business with Shazam's, teasing that it has 'exciting plans in store'.
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