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Wednesday, April 23, 2008
Sony to Buy Gracenote For $260 Million

Sony Corporation of America said it would buy digital media company Gracenote Inc for about $260 million plus other consideration.

The companies expect the deal to close in late May.

Gracenote, which provides software that allows compact discs to pull up related information from the Internet, will become a wholly-owned subsidiary of Sony, the company said in a statement.

Sony plans to beef up development of next-generation audio products with Gracenote's technologies.

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