Apple is buying audio recognition app Shazam

Apple is reportedly buying Shazam, a music recognition app last valued at $1 billion

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Apple is close to nailing down a deal to buy media-recognition app maker Shazam Entertainment, according to a TechCrunch report Friday.

We have heard that the deal is being signed this week, and will be announced on Monday, although that could always change.

Shazam - which allows users to quickly identify songs, films, TV shows or commercials - has been an essential app since the dawn of the smartphone era. Launched in 2008, Shazam is used more than 20 million times a day.

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As for what Apple might do with Shazam, there are a number of possibilities. There's also a My Shazam tab in the app to see a list of all your songs, integrated directly with Apple services including iTunes and Apple Music, as well as Spotify. It could be a done deal or Apple could have called Shazam's people up yesterday.

Shazam is a veteran of the first dotcom boom, dating back to 1999.

Shazam is now one of the App Store's most popular downloads and is integrated into Apple's Siri voice assistant.

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The report suggests that the deal will be a "nine-figure" acquisition, with one source suggesting that Shazam will go for £300m (circa $400m).

Apple usually focuses on acquiring smaller companies but has made one major acquisition in 2014 - Beats Electronics for $3 billion.

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