Apple acquires music analytics company Axios for less than $100 million

Apple is making major efforts to become the top music streaming service provider, a seat currently occupied by Spotify.

According to American news agency Axios which has cited a source, Apple Inc has acquired music analytics start-up Asaii for less than $100 million.

The acquisition will help Apple strengthen its bid to recommend content to its music users.

The purchase is likely to enable Apple to better compete with Spotify Technology SA’s efforts to work directly with smaller artists, like a music label, said the report.

The acquisition comes in the wake of Apple completing its acquisition of music discovery app Shazam – an industry leader in music streaming services.

Both deals are likely to help Apple better compete with Spotify.

Asaii and Apple were not immediately available for comment outside regular business hours.


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