<B>Sony to Purchase Gracenote for $260 Million</B> - TvTechnology

Sony to Purchase Gracenote for $260 Million

Acquisition target makes digital content technology
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Sony Corp. of America is buying Gracenote, a company in Emeryville, Calif. that makes embedded technology for online media content. Sony said it will pay $260 million “plus other contingent considerations.”

Gracenote is best known for providing its music database for iTunes, Yahoo! Music Jukebox and Winamp. The company also provides technology for mobile content applications. The business will continue to be operated as a separate subsidiary of Sony. The deal is expected to close in late May. A Sony executive said the company expects the acquisition to boost its own digital content initiatives.