Apple Buys Out Semetric
Published By : 22 Jan 2015 | Published By : QYRESEARCH
Apple Inc. has recently acquired Semetric, a British start-up that focuses on music analytics. The maker of the iPhone is looking to strengthen its ability to gauge what the users are listening to in forethought of Beat Music. Beats Music will be launched internationally in 2015.
A source said that Apple bought Semetric for almost US$50 million. The London based company houses almost 40 employees. Most of them will now work for Apple.
The U.S. group has not yet commented on the details of the transaction, which was already closed by the end of 2014.
The makers of the growingly popular Musicmetric were founded in 2008. The company provides data on streaming and downloads of music. It also analyzes what consumers are saying about artists and songs on social media.
Clients of Semetric include major record labels along with companies that focus on digital music streaming such as Gracenote and Spotify.
The deal is one of the most significant ones made in the London digital music companies. The list currently includes names such as MixCloud, Omnifone, and 7digital. One of the companies, Shazam, recently said that they had successfully raised US$30 million through funding, which now puts the British music company at US$1 billion.
Semetric’s takeover is the latest endeavor by Apple to regain its leadership in the realm of digital music. Their hold had weakened while iTunes downloads started to fall all through 2014.
Apple had already bought out Beats Music, which is a subscription music streaming service. The deal was a part of a US$3 billion takeover of Beats Electronics, the headphones maker. Apple is now making plans to bundle up Beats Music and its iOS in 2015. The move would make Beats Music available instantly to the millions of Apple users around the world.