Tag Archives: Acquire
SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O) is in talks to acquire Shazam Entertainment Ltd, whose software helps users identify songs by pointing their phone at an audio source, according to a person familiar with the situation.
Shazam’s smartphone app is already tightly integrated with Apple’s Siri digital assistant. Users of Apple’s iPhone with the Shazam app installed can say: “Hey Siri, what’s that song?” and the app will identify it. But Shazam has other features, such as the ability to identify television shows, that do not yet work with Siri.
Tech news website TechCrunch reported the talks earlier, writing that Apple could pay about $ 400 million for Shazam and that a deal could be signed as early as next week.
Shazam did not respond to a request for comment.
Privately-held, UK-based Shazam has raised $ 143 million from DN Capital Limited, Institutional Venture Partners, and Kleiner Perkins Caufield & Byers, among others, over its 18-year history, according to PitchBook, a firm that tracks private venture investments.
The price TechCrunch reported would fall far below Shazam’s most recent $ 1 billion valuation reported by PitchBook.
An acquisition of Shazam could help bolster Apple’s music efforts by making it easier for users to find songs and add them to playlists in its Apple Music service. As of mid-2017, Apple Music had 27 million subscribers, behind rival music streaming service Spotify’s 60 million users.
Reporting by Stephen Nellis, Editing by Rosalba O’Brien
Last week, Yahoo extended the deadline for potential bidders to submit their proposals to acquire the Silicon Valley company. Already reports have surfaced companies like Verizon and Google seeking to make a move, but today it seems that the parent company of the U.K.-based Daily Mail is in talks with private equity firms to make its own bid for Yahoo.
Things are getting interesting.
The Wall Street Journal reports that if the Daily Mail actually submits a bid, it could take one of two forms: A private equity partner would acquire Yahoo’s core web business with the Daily Mail taking over the news and media properties; or the private equity partner would acquire Yahoo’s core web business and merge the media and news properties into the Daily Mail’s online operations.
Reports indicate that there have been as many as 40 firms that have expressed an interest in what Yahoo has to offer, but how many are actually serious remains unknown. Time Inc. is perhaps one of the few known publication and media companies to be contemplating a bid, which could strike some similarities with the Daily Mail’s plans.
Yahoo has been spending its time focusing on how to sell its core internet business since December. After some shareholders flip-flopped on whether the company should spin out its Alibaba holdings into a standalone company, the remaining option was to part with Yahoo’s core business. During its Q4 2016 earnings, the firm revealed that it was implementing an “aggressive strategic plan” to simplify itself, hopefully in a move to make it more enticing to potential buyers. As a result 15 percent of its workforce was being let go, making up 9,000 employees and fewer than 1,000 contractors.
According to documents obtained by Re/code, the financial situation at Yahoo isn’t that great. It’s said that revenue at the company is dropping close to 15 percent and earnings by over 20 percent. So while there are people contemplating bids, the real test will be to see which ones don’t balk at the seemingly dire circumstances Yahoo finds itself in and remain adamant that they can use its offerings.