Apple buys music analytic company Asaii

Apple has acquired Asaii, a company which develops music analytics tools, in a deal valued at under $100 million. The acquisition, which is yet to be officially confirmed, was reported by Axios citing information received from insider sources.

Asaii's music analytics tools allow labels to discover and track artists by pulling data from social media sites and music streaming platforms using machine learning algorithms.

Asaii's another offering is an API for a music recommendation engine that is integrated into streaming services. The acquisition is being seen as Apple's bid to bolster the recommendation feature of Apple Music and close the gap on Spotify in terms of premium subscribers.