Report: Apple acquiring music recognition app Shazam (Update: Apple confirms)

Apple is close to acquiring Shazam, the app that lets users identify songs, movies, TV shows and commercials by using a small portion of the audio or images, TechCrunch reports. Sources said the deal could be announced as early as today, with one claiming Apple could pay more than $400 million for the company. The app has been downloaded more than a billion times, but hasn’t been turning much of a profit. The app already integrates with Siri and sends lots of traffic to both Apple Music and the competing Spotify service. Update: Apple has confirmed its acquisition of Shazam to 9to5Mac, saying in a statement that Apple has “exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”