Apple’s buyout of Shazam is set to be approved by the European Commission
According to a report published by Reuters, Apple’s proposed $400m buyout of music-recognition company Shazam is set to be approved by the European Commission. It seems, indeed, that the acquisition, first announced in December, is about to be approved by regulators without demanding any concessions.
The EC opened an official investigation in April, following a request from seven countries including Austria, France, Iceland, Italy, Norway, Spain and Sweden (home of Spotify). The EU antitrust enforcer decided that the deal carried a risk of having anti-competitive effects in Europe, despite the fact that the $400m pricetag was under the typical threshold to launch such an investigation.
According to some industry insiders, Apple will integrate Shazam’s technology into Apple Music, giving users the ability to discover and ‘capture’ music information without flitting between two apps to do so. The EU’s antitrust enforcer did raise concerns over Apple stopping Shazam from referring users to rivals of Apple Music – but, according to the latest news, it all came to nothing.