Terms of the deal have not been disclosed.
Shazam will immediately launch Shazam LyricPlay, a feature on its Encore premium app that allows users to view lyrics synchronized in real time with their music.
LyricPlay works with more than 25,000 songs in Shazam's library and automatically syncs with a music source.
The technology is being launched initially in the US and Canada for Shazam Encore, before being rolled out into other territories.
The feature is available for free within the Shazam Encore and Red apps for iPhone and iPod Touch, which users can download for $3.99 for a year’s subscription or for a one-time fee of $5.99.
LyricPlay follows the release of Shazam Friends for iOS and Android, a real-time feed of songs that Facebook friends have tagged and shared with others.