Shazam is one of the big names in the market when it comes to music recognition, and soon it may be snapped up by another major company.

Apple is close to acquiring Shazam, say sources speaking to TechCrunch. The deal will reportedly be signed this week and could be announced as early as next Monday.

A report from Recode echoes the news of Apple acquiring Shazam, adding that Shazam will likely be valued at around $400 million.

Apple — and other companies — already offer a music recognition service, but Apple must see something in Shazam's services that it thinks can help improve its own music recognition if it's going to drop nearly half a billion dollars on this deal. Shazam is able to identify TV shows, films, and advertisements in addition to music, so perhaps Apple sees some benefit to these abilities, too.

Have you ever used Shazam?