When iTunes was first unveiled nearly 15 years ago, it was a revolutionary product — all your music available in one place. As time has moved on, other platforms, including Pandora, Spotify and others have eaten away at iTunes, as digital streaming has replaced the download.
However, Apple isn’t going to go quietly, as the company has said “music… is deep in our DNA.”
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The company has reportedly acquired music technology company Camel Audio. The acquisition was first reported by MacRumors. An Apple lawyer, Heather Joy Morrison, is listed as the sole director of the company.
Terms of the deal were not disclosed and Apple has not officially commented on the deal.
An acquisition of Camel Audio is interesting, as the company had previously built the Alchemy software suite, which allowed musicians to produce their tracks digitally. The products are no longer available for sale, and the company posted a statement on its website saying previous purchases would continue to be supported until July 7, 2015.
Apple already offers products for digital music production, including Garageband and Logic Pro X. It’s possible that Camel Audio’s products will be folded into those existing products or perhaps into iTunes as well.
Cupertino, Calif.-based Apple has been busy acquiring companies in recent months, with CEO Tim Cook telling a Goldman Sachs conference the company has made 17 acquisitions over the past year, most notably the Beats acquisition in the fall of 2014.
The world’s largest company by market cap has traditionally catered to creative types, be it journalists, musicians, filmmakers, and so on. By strengthening its existing products, Apple is ensuring not only that its products remain the top choice for people currently in these fields, but also that Apple keeps them as customers in the future.
