Apple has reportedly acquired the UK-based Semetric, the start-up behind the Musicmetric analytic tool. The acquisition could aid in Apple’s forthcoming Beats Music streaming service.
According to the Financial Times, Apple has paid approximately $50m for the British music analytics start-up.
This latest move marks Apple’s latest attempt to reaffirm its control in digital music, which has faded over declining iTunes downloads over the past year.
The acquisition offers the iPhone maker with access to Semetric’s Musicmetric platform – software that supervises and analyses online interactions concerning artists and brands.
According to Music Ally, the deal is claimed to be one of the most significant yet for London’s digital music firms, including 7digital, Omnifone and MixCloud.
Apple decided to refurbish its music line-up last year with the $3bn acquisition of Beats Electronics.
The iPhone maker is reportedly thinking of rebranding Beats Music under its iTunes brand and preloading its streaming music service on every iOS device. This is in conjunction with plans to undercut Spotify’s £9.99-a-month subscriptions.
Established in 2008, the London-based firm has around 40 employees, with the majority of them currently working for Apple.
A UK regulatory filing noted that Semetric had appointed Apple corporate law senior director Gene Levoff to its board of directors in October.
