NEW YORK, April 22 /PRNewswire/–Sony Corporation of America (SCA) has announced in a press release today that Sony is going to acquire Gracenote, Inc. According to the merger agreement Sony is paying almost $260 million with other contingent concern.
“Gracenote is a worldwide leader in technology and services for digital media identification, fortification, and recommendation, and these capacities will be important to the next wave of novelty in content, services, and consumer electronics,” stated by Tim Schaaff, SCA Senior Vice President, Software. “Sony can observe marvelous growth potential in developing Gracenote as a separately run business unit, and by broadly taking up Gracenote’s platforms, Sony expects significantly to enhance and accelerate its own digital content, service, and device initiatives.”
“We are very pleased to join Sony as its strategic vision is much similar to our own,” stated by Craig Palmer, Gracenote CEO
Sony Corporation of America
Sony Corporation of America is New York based company and a subsidiary of Sony Corporation whose headquarter is situated in Tokyo. Sony is one of the biggest manufacturers of audio, video, communications, and IT related products for the customer and practiced market. Sony’s products are not needy of any praise or introduction as they are part and parcel of every home in almost every part of the world.
While Gracenote is a worldwide renowned name in consumer electronics, mobile, automotive markets, embedded technology and data services for digital entertainment solutions on the Internet. Gracenote, previously known as CDDB(R), it provides a significantly enhanced consumer experience in digital media devices and functions , media monitoring and other data services to the recording industry that makes it an essential part of the digital media market. Apple iTunes, Yahoo! Music Jukebox, Winamp; Alpine’s home and automotive products , Panasonic, Philips and Sony; and mobile music applications from Samsung, Sony Ericsson, KDDI (Japan), KTF (Korea), Musiwave (Europe), and many others are included in the power leading services by Gracenote. Its headquarter is situated in California.
Gracenote’s current business will work singly. As an entirely owned Sony auxiliary, Gracenote will continue to develop new technologies in current as well as new areas of operation. The senior management team of the company will not be changed.
Sony and Gracenote expect that the deal will be completed in late May this year.
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