Sony Corp. of America has agreed to buy digital media identification company Gracenote, Inc. for about $260 million plus other contingent consideration.
Formerly known as CDDB, Gracenote delivers a substantially improved consumer experience in digital media devices and applications, plus media monitoring and other data services to the recording industry.
Gracenote will become a wholly owned Sony subsidiary but its existing business will continue to operate separately. Gracenote’s management team will remain with the company.
The deal is expected to close in late May.
Originally posted on April 20, 2008 @ 9:47 pm