Shares of Apple (AAPL) rose in trading on Monday as the company confirmed that it will acquire the popular Shazam application. Shazam is a smartphone application that allows users to identify songs, movies, and other media simply by turning on the app while audio can be heard of the media that the user is seeking to identify. It has proven to be a very useful application and allows users to quickly identify songs they hear on a radio broadcast that they do not recognize. AAPL will pay $400M for the acquisition. AAPL shares closed up +1.95% to settle at 172.67.