(24 April 2008 6:30 pm)

MUMBAI: Sony has acquired Gracenote, a tech firm which was created in 1998.

Gracenote also owns the database of albums, artist names and song titles used to identify music in digital media services like Apple’s iTunes.

The deal is expected to close in May. The sale price is $260 million along with other compensation based on future performance.

Using Gracenote's platforms, Sony will accelerate its own digital content, service and related initiatives.

Gracetone’s services are used in Apple, iTunes, Winamp, Panasonic, Philips and Sony, and on the mobile music side by players such as Samsung and Sony Ericsson.