Techcrunch’s sources said the acquisition price is a nine-figure sum, with one source putting it at around £300mln (US$400mln).
In Shazam’s previous fund-raising round, it issued shares at a price that implied a market valuation for the UK company of US$1.02bn.
The Shazam service was launched in 1999, pre-dating the smartphone era. The app is remarkably successful at identifying songs from just snippets of music.
READ: Apple makes augmented reality headset move with reported acquisition of a Canadian start-up firm
According to TechCrunch, Shazam made a pre-tax loss of £4mln in fiscal 2016 on revenue of £40.3mln.