Sony Buys Music Identification Firm, Gracenote

Sony Corporation of America (SCA) has announced that it is paying US$260 million to buy music identification company, Gracenote. The Gracenote service is embedded within the iTunes software program, as well as being licensed to Sony Ericsson and Samsung for use in their mobile phones.

"Gracenote is a global leader in technology and services for digital media identification, enrichment, and recommendation, and these capabilities will be essential to the next wave of innovation in content, services, and consumer electronics," said Tim Schaaff, SCA Senior Vice President, Software. "Sony sees tremendous growth potential in developing Gracenote as a separately run business unit, and by broadly embracing Gracenote’s platforms, Sony expects to significantly enhance and accelerate its own digital content, service, and device initiatives."

Gracenote’s existing business will continue to operate separately. As a wholly owned Sony subsidiary, Gracenote will continue to develop new technologies in existing as well as new areas of operation. The senior management team will remain with the company.

Sony and Gracenote anticipate that the transaction will close in late May, subject to certain regulatory and other approvals.

Posted to the site on 25th April 2008