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Apple is set to buy Shazam for $400 million

The deal will be announced next week, according to reports...

Apple is eyeing up a purchase of music recognition app Shazam for $400 million, according to reports circulating online.

TechCrunch broke the news earlier today, citing sources close to the deal which they reckon will be announced officially as early as next week.

The music identification app has been incredibly popular with music fans as it allows them to identify music that they hear at clubs, bars and on TV.

In other music industry news, Youtube is expected to announce the launch of its own music streaming service, which it hopes will help its strained relationship with the major labels.

And Spotify is finally going public soon, too, having recently acquire cloud-based firm Soundtrap

Via Techcrunch

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