Music has been part of Apple's (NASDAQ: AAPL) DNA since the company debuted the iPod in 2001, which quickly dominated the portable music category. It followed with the iTunes store in 2003, and the acquisition of Beats Music in 2014. Apple launched Apple Music, its streaming service in 2015.
Now, the company is ready to take the next step in its musical evolution.
Apple has confirmed that it is acquiring streaming music service Shazam. Terms of the deal weren't made public, but the purchase was widely reported to be in the neighborhood of $400 million.
Source: Fool.com