“Apple’s takeover of the music-recognizing service Shazam has hit a possible snag in the European Union, after the bloc’s competition authorities said they want to take a closer look,” David Meyer reports for Fortune. “It’s not entirely clear what the problem is, but Austria — the EU country where Apple submitted a notification for regulatory clearance — wants the Commission to take over the case, as do France, Iceland, Italy, Norway, Spain, and Sweden.”
“The reportedly-$400 million deal is too small to automatically trigger a Commission probe. Last year Shazam posted revenues of just £40.3 million ($56 million), which brings it in well below the Commission’s thresholds for automatic review (€100 million or more, depending on the circumstances),” Meyer reports. “However, the rules say countries can nonetheless ask the Commission to wade in, and that’s what’s happened here.”
Meyer reports, “Some observers have highlighted Shazam’s rich trove of user data, and the fact that the Commission is increasingly keen on treating data as an asset when looking at the merits and competition risks of mergers.”
Read more in the full article here.
MacDailyNews Take: Ah, the languid expediency of unnecessary red tape unfurled by meddlesome bureaucrats.
SEE ALSO:
Why Apple bought Shazam – December 13, 2017
Apple’s $400 million purchase of Shazam: Good news or bad news for startups? – December 12, 2017
Shazam! Apple’s Siri gets better – December 11, 2017
Apple could be missing out on the smart home if they take too much longer to get things right – December 11, 2017
Why is Apple buying Shazam? – December 11, 2017
Apple said to acquire music recognition service Shazam – December 8, 2017