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Sony to Buy Gracenote

Wednesday, April 23rd, 2008 at 8:15 AM - by

Sony announced on Tuesday that it is buying Gracenote for US$260 million. Gracenote, formerly known as CDDB, is set to become a wholly owned subsidiary of Sony and will continue to operate separately of its new owner.

Gracenote's senior management team will remain with the company.

Craig Palmer, Gracenote CEO, commented "Having a closer connection with the content and digital services community will accelerate adoption of Gracenote technologies, and the relationship will also give us the resources necessary to rapidly expand development of next generation products for the industry."

Gracenote is well know for its online database that provides album and track names, artist names, and other information about the music people listen to. iTunes users see Gracenote's technology in action every time album information is automatically added to their iTunes library for the music CDs they own.

Sony and Gracenote are awaiting routine regulatory approvals and plan to close their deal later in May.

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