Sony Acquires Gracenote2 Jun, 2008 By: Chris Tribbey
Sony Corp. of America completed its acquisition of technology company Gracenote June 2. The merger was announced April 22.
Gracenote, a digital software licensing operation, will keep its senior management team, and will operate separately from Sony. Gracenote licenses out its media recognition service technology to software and hardware developers, who use it in CD players and burners, MP3 players, cell phones and home media applications. The deal was worth $260 million.
“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, Sony Corp. SVP of software.
“We are very pleased to join Sony as its strategic vision is very much in line with our own,” said Gracenote CEO Craig Palmer.