The European Union (EU) on Thursday approved U.S. technology giant Apple's planned acquisition of British music recognition app Shazam, saying the merger would not adversely affect competition in the bloc.
"Data is key in the digital economy. We must therefore carefully review transactions which lead to the acquisition of important sets of data, including potentially commercially sensitive ones, to ensure they do not restrict competition," said Margrethe Vestager, EU Commissioner in charge of competition policy.
"After thoroughly analyzing Shazam's user and music data, we found that their acquisition by Apple would not reduce competition in the digital music streaming market," she added.
The decision follows an in-depth investigation of Apple's proposed acquisition of Shazam. The Commission found the transaction would raise no competition concerns in the European Economic Area (EEA). And a merger decision does not release companies from respecting all relevant data protection laws.
Apple operates "Apple Music", which is the second largest music streaming service in Europe after Spotify. Shazam offers a leading music recognition application in the EEA and worldwide.
