EU Approves Apple’s Planned Acquisition of Shazam

Must Read

Bhaswati Sarkar
Bhaswati Sarkar
She is a feminist pursuing a M.A. degree. She likes to lose herself in music and daydreams quite often. Travelling excites her and photography is her passion- nature is her favorite subject. Writing is cathartic for her. A happy-go-lucky kind of person, she tries to remain calm and serene through daily life.

On Thursday, the European Union approved Apple’s plans to procure Shazam, the British music discovery app, only after an EU antitrust investigation showed that this action would not be an inconvenience to competition in the bloc.

This deal was announced in December 2017 to assist the iPhone in better competition with Spotify, the industry leader in music streaming services.

A full-scale investigation was started by the European Commission this April over doubts about whether companies may buy a data-rich rival to mine it for information or drive others out of the market after observing the probe requested by seven European countries, including France, Italy, Spain, and Sweden.

According to a Reuters report last month, Apple was in a position to win unconditional EU antitrust approval for the deal following.

After thoroughly analyzing Shazam’s user and music data, we found that their acquisition by Apple would not reduce competition in the digital music streaming market. Data is key in the digital economy. We must therefore carefully review transactions which lead to the acquisition of important sets of data, including potentially commercially sensitive ones. – Margrethe Vestager, EU competition commissioner

Shazam identifies songs when a smartphone is pointed at an audio source.

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Latest

- Advertisement -

Related

- Advertisement -
- Advertisement -