Apple Acquires Lala

Streaming digital music service and storefront Lala has officially been acquired by Apple.

One of Lala’s unique features is the ability to upload songs from your music collection to their company cloud, providing not only a convenient backup source but also access to your library from mobile devices. You can also buy streaming-only Web albums rather cheaply, another relatively unique offering in the crowded online music space.

What does all this mean? Look out MySpace, because now Apple is on it’s way to providing some sort of streaming service to users, perhaps with a cloud storage component for music collections.

Any of you familiar with the Lala service?