EU is all set to grant permission to Apple’s $400M Shazam buyout

According to a report, Apple is going to win EU Antitrust Approval to buy Shazam of worth $400M. It was announced by Apple last year and now EU is set to clear Apple’s Shazam buyout . This deal between EU regulators and the iPhone maker will help Apple in competing with the Spotify music app.

The whole story

It all started in the month of December 2017 when Apple announced its intent to acquire Shazam. EU opened a full-scale investigation in April, for they had doubts that this deal might give an unfair advantage to Apple in approaching users of the rivals. Apple Music is the second-largest music streaming service in Europe. So, EU was also concerned that Apple might halt the referrals from Shazam to its rivals.

The Commission took over the case from national EU regulators following a request from seven European countries including France, Italy, Spain, and Sweden. Now, the EU executive is scheduled to decide on the deal by Sept. 18. Apple has declined to comment over the news as of now.

News Source: https://www.firstpost.com/tech/news-analysis/apple-set-to-win-eu-antitrust-approval-for-acquiring-music-discovery-app-shazam-5025011.html

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