The European Commission wants a closer look at Apple's purchase of Shazam

08 February, 2018, 12:29 | Author: Pamela Mathis
  • The European Commission wants a closer look at Apple's purchase of Shazam

However it seems that not everyone might be on board with the acquisition, such as the European Commission who announced that they will be taking a closer look at the deal to see if it meets "competition standards".

Apple announced it would buy Shazam in December in a deal worth less than the "turnover threshold" for the EC, but above the merger notification threshold for Austria, which leads the quorum of countries anxious by the deal.

Apple Inc's takeover of music-identification service Shazam may threaten to adversely affect competition and should be reviewed by the European Commission, the regulator said. Quite what the tech giant plans to do with Shazam's app, know-how and brand is not yet clear, though it is thought the audio ID technology may be used to enhance the Apple Music streaming service in one way or another. It did not disclose the price-tag for the deal but sources suggest it's paying in the region of $400 million.

"The Commission considers that the transaction may have a significant adverse effect on competition in the European Economic Area", said the Commission. However, the deal required approval from regulators in Austria under merger rules there, and it has made a decision to bounce the investigation up to the EC.

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Now, Apple will have to ask the Commission to approve the acquisition. Now it's come to light that the European Commission will now be investigating the legality of last year's deal. The EU may be anxious that once Shazam is under Apple's control, the iPhone maker could choose to make Apple Music the only option for listening to tracks.

Seven European countries have called for a regulatory review of the deal.

The Commission has also concluded that it is the best-placed authority to deal with the potential cross-border effects of the transaction and will now ask Apple to notify the transaction.



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