Apple could announce a $US400 million to buy Shazam as soon as Monday, according to sources quoted by TechCrunch.
It is believed that Apple would seek to integrate Shazam, an app that identifies songs, TV shows, films or adverts from a short audio clip, further into its music business.
Apple and Shazam already have a longstanding business relationship, with users able to click through to iTunes to purchase the songs they have heard.
Shazam is believed to have been downloaded over one billion times by users in more than 190 countries, and is used over 20 million times each day.
Shazam grew from an SMS service in 1999 to an app that today also allows users to also use pictures to discover content, as well as allowing people to follow famous people to see what they Shazam.
If it goes forward the acquisition will be one of the highest valued deals that both Apple and London’s consumer technology market have made.