Apple has confirmed reports that it's buying Shazam, the ubiquitous music-recognition app. Rumors of an acquisition were first reported by TechCrunch on Friday, before being confirmed by the Financial Times.
The purchase price has not been disclosed, but it's believed to be in the region of $400 million. That would be a significant exit for a company that's been in the business since the 1990s, but the valuation would be far less than the $1 billion Shazam has previously raised funds at.
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