If the deal goes according to plan, an announcement is reportedly planned for Monday.
Apple is reportedly purchasing the popular music-identifying app Shazam.
Tech Crunch reports a deal is being signed this week, with an announcement planned for Monday. One source told the outlet it was priced at about $400 million, with another saying it was in the nine figures. In 2015, the company was valued at over $1 billion.
In September last year, Shazam -- which also identifies TV shows, films and advertisements -- hit 1 billion downloads and had for the first time achieved profitability, thanks largely to revenue from advertisers.