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Apple has confirmed acquiring Shazam, a London-based app that allows smartphone users to identify music, for a reported $400m.
Apple which revolutionised music with the introduction of the the iPod and iPhone, said Shazam was a natural fit for its Apple Music streaming service.
“We are thrilled that Shazam and its talented team will be joining Apple,” an Apple spokesperson said.
“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.”
Neither side would officially say how much Apple had paid, but a figure of about $400m has been reported, less than half the $1bn the app was last valued at when it tapped investors for cash in 2015.
An article published on the Verge says that Shazam can help Apple in a number of ways despite its low revenues. The most obvious would be with Apple Music, where Shazam’s team could help improve the experience of the service, it says. If Apple decides to shut down the app, it would also take away referrals to Spotify, which together with Apple Music gets 1 million clicks per day from Shazam. Also, Shazam’s music and sound recognition, which is already integrated with Siri, could gain a deeper integration with iOS, much like Google has done with its song recognition feature on the Pixel.
When the deal is closed, it will become Apple’s biggest acquisition since it bought rapper Dr Dre’s headphones company Beats Electronics for $3bn in 2014.
Shazam has been downloaded over 1bn times and although Shazam is popular with smartphone users it has struggled to make much money, with revenues of $54m in 2016.
The technology behind Shazam is called audio fingerprinting, and it provides the ability to link short, unlabeled pieces of audio content to corresponding meta data about that content. Audio fingerprinting enable users to identify the song title by providing a small piece of audio sample of the song instead of entering some keywords to look for.
Nigerian Customs: Cars importation ban Remains.
The Nigeria Customs Service (NCS) has maintained that the ban on importation of used and new vehicles into the country through land borders remains.
The comptroller-general of customs, Colonel Hameed Ali (rtd), said this on Monday, June 24, when he spoke at the official launch of a bilateral trade platform at Seme border.
a letter from our Editor-in-Chief Bayo Olupohunda According to Ali, the Nigeria Customs Service will not open land border for importation of used vehicles.
He, however, said the government was interested in the success of the connectivity platform that would facilitate border trade between Nigeria and Benin.
Ali urged that stakeholders should embrace the platform to enable the two countries to achieve seamless operations and trade facilitation as this would assist genuine traders.
“We are envisaging compliance, and we hope we get compliance; where individual decides not to comply, then the customs will ensure there is no illicit trafficking between the two countries,”
The NCS boss noted that through the platform, false declaration of goods and some other illegal activities, experienced due to manual operation, would stop.
India dismissed 15 top officials
India on Tuesday sacked 15 senior tax officials facing probes in corruption cases, sending across a tough message to bureaucrats taking kickbacks for facilitating tax evasion by companies, a government statement said.
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Last week, the government had dismissed 12 income tax officials who were mainly facing corruption charges.
India improved its ranking, among 180 countries, by three points to 78th on a global corruption index in 2018, according to the annual index of the Transparency International, an anti-graft watchdog.
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