Tech giant Apple has acquired music data analytic startup Asaii, according to media reports. This is Apple’s first major acquisition in the music streaming space, after it bought music discovery app Shazam last year for $400 Mn. The iPhone maker had completed Shazam’s acquisition process only last month.
Although it is not known how much exactly Apple has spent on the latest acquisition, sources close to the matter claimed that the deal is worth less than $100 Mn.
Founded in 2016, Asaii claims to use advanced machine learning tools to help music listeners to find truly talented artists and music that is worthy to be heard. The company says that it tries to make sense of all the noise through its curated listing enabled by its advanced tools.
Both Apple and Asaii have so far not commented on the acquisition report.
Apple’s biggest rival in music streaming space is Swedish based music streaming company Spotify. For over a decade both Apple’s iTunes and Spotify have been involved in cut throat battle to capture the global music streaming market. Currently, Spotify with 36% global market share and 83 million subscribers is the market leader of the global music streaming market.