Sony Corporation of America (SCA) announced today that it has signed a merger agreement with Gracenote, Inc. Sony will pay approximately $260 million plus other contingent consideration.
Formerly known as CDDB, Gracenote delivers content, and data services for digital entertainment solutions. You sure have used Gracenote already, when you have burned a music CD. It supplies the track titles.
Gracenote powers leading services including Apple iTunes, Yahoo! Music Jukebox, Winamp; home and automotive products from Alpine, Panasonic, Philips and Sony; and mobile music applications from Samsung, Sony Ericsson, KDDI (Japan), KTF (Korea), Musiwave (Europe), and others.
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.
More details in this Sony press-release.
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