Apple had this to say about the purchase:
“We are thrilled that Shazam and its talented team will be joining Apple. Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS. Today, it’s used by hundreds of millions of people around the world, across multiple platforms. Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”
Although Apple did not disclose the cost, sources say it was within the range of $400 million. Sources also say that Apple has been working on this deal for about five months after and came in after Shazam has been having talks with other companies like Snapchat and Spotify.