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Apple reportedly close to buying Shazam

Apple is reportedly close to buying UK tech firm Shazam for approximately $400m (£300m).

According to TechCrunch, the deal could potentially be announced today.

Set up in 1999, Shazam enables users to use their smartphone or other device to identify and purchase music after listening to a snippet of sound.

The firm claims to have more than 100 million monthly users and generates the majority of its revenue from referral commissions paid to Apple’s iTunes store.

Shazam has raised over $140m from investors including Kleiner Perkins and DN Capital.

Neither company has commented on the reported deal.

If confirmed, though, Shazam will become the latest UK tech business to be snapped up a by a US giant.

Magic Pony and Swiftkey, both set up in London, were snapped up by Twitter and Microsoft respectively.