Sony Acquiring Gracenote for $260 Million

• Posted: Tuesday, April 29, 2008
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• Author: pradhana
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• Filed under: Miscellaneous

Sony Corporation of America announced it will acquire digital media identification and recommendation solutions provider Gracenote for $260 million. Gracenote provides a series of consumer solutions including MusicID--which detects and loads track information like artist, title and album--for digital music services including Apple iTunes, Yahoo Music Jukebox, and Winamp.

According to Sony, Gracenote will operate as a wholly-owned subsidiary, and will focus on technology development in existing and new markets under the supervision of its existing senior management team. "By broadly embracing Gracenote's platforms, Sony expects to significantly enhance and accelerate its own digital content, service, and device initiatives," said Sony senior vice president of software Tim Schaaff in a prepared statement. [FierceMobileContent]

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