October 14, 2018 / 11:05 PM / a month ago

Apple buys music analytics company Asaii: Axios

FILE PHOTO - A man looks at the screen of his mobile phone in front of an Apple logo outside its store in Shanghai, China July 30, 2017. REUTERS/Aly Song

(Reuters) - Apple Inc has acquired music analytics start-up Asaii, Axios reported on Sunday, citing sources, in a bid to strengthen content recommendations to its music users.

Apple’s deal to buy Asaii was worth less than $100 million, Axios reported, citing a source.

Asaii can help Apple compete with Spotify Technology SA’s efforts to work directly with smaller artists, like a music label, the report added.

Last month, Apple completed the acquisition of music discovery app Shazam, a deal to help it better compete with Spotify, the industry leader in music streaming services.

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

Reporting by Shubham Kalia in Bengaluru; Editing by Peter Cooney

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