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The European-based streaming music player, Spotify, denied on Tuesday that it has denied reports of acquisition negotiations with Apple. A blog had reported that Spotify and Apple were involved in buyout discussions.
Although the company does not normally comment on speculation, "we wanted to make it clear that we have absolutely no intention of selling Spotify," a spokesman told a reporter. A previous report suggested that the two companies were in talks about the acquisition of Spotify by the Cupertino, California-based company, which was trying to enter the market. American market of digital music.
Apple used Spotify as a lever in discussions with music labels, arguing that the free streaming service could still erode digital music sales and explain why a subscription-based iTunes subscription made sense.
The rumor regarding the acquisition of Spotify is the most recent. Previously, some observers had suggested Apple to acquire Sony, Adobe or even Disney, although such discussions are not limited to speculation. In its recent quarterly report, Apple executives have hinted that Cupertino, California, could consider several strategic investments. Apple has acquired several small businesses, such as streaming media company Lala, chip maker Intrinsity, and mobile media production company Quattro Wireless. The iPhone maker has an estimated budget of $ 51 billion that it could use to buy businesses.
[BusinessInsider, CNET, TechCrunch]
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