Apple's Shazam bid expected to get EU approval
It reportedly looks like a done deal, although an official decision won't come till next month.
Apple may acquire Shazam soon.
Apple's plan to buy Shazam, an app that can name a song playing nearby, may finally get the thumbs-up from European regulators.
The European Commission is set to approve Apple's acquisition of the British music recognition app, Reuters reported on Wednesday. The commission, the executive arm of the European Union, is reportedly expected to decide on the deal by Sept. 18.
This comes after EU regulators launched an in-depth investigation into the acquisition in April. Regulators worried that a Apple-Shazam marriage might unfairly give Apple Music a leg up in the music streaming business over services like Spotify, Pandora and Tidal.
Apple last December confirmed its buyout of Shazam to bulk up its Apple Music service. Apple didn't disclose financial details, but the purchase price was reportedly about £300 million, or roughly $401 million. The tech giant bought Beats for $3 billion in 2014.
Apple and Shazam didn't immediately respond to requests for comment.
The European Commission declined to comment.