Gracenote Acquires Cantametrix, a Leading Music Technology Provider
Deal Combines Advanced Waveform Analysis Technology with World's Largest Database of Music Information
Gracenote, a leading provider of music infrastructure technologies, today announced that they have completed the acquisition of all technology and intellectual property from Cantametrix, a leading music waveform analysis and identification company. Under the terms of the agreement, Gracenote will acquire Cantametrix's intellectual property portfolio, including their MusicDNA™ waveform recognition technology, and other assets. Cantametrix Chairman and CTO, Max Wells, will continue to work with Gracenote on new initiatives. Financial terms were not disclosed.
Gracenote plans to incorporate Cantametrix technology into their existing suite of recognition products, which include CD, mp3 and DVD recognition. When combined with Gracenote's comprehensive database of music information, waveform recognition will enable Gracenote to recognize audio signals from any source, including terrestrial radio and other analog sources. Potential uses include portable mp3 players, car stereos, and peer-to-peer networks, among others. Gracenote currently provides music recognition technology to over 4,000 software developers and leading consumer electronics manufacturers worldwide.
"Adding Cantametrix' technology and patent portfolio to our family of recognition products secures our central role in the music experience of the future," said David Hyman, CEO of Gracenote. "This extremely flexible technology will also allow us to expand our core service and extend our offering to new products and new markets."
"During our work with Napster, we looked at almost all of the waveform providers on the market, and Cantametrix was at the top of our list," said M. W. Mantle, COO of Gracenote. "The accuracy, scalability, and superior structure of their technology make this a perfect fit for us."
Gracenote provides critical digital music infrastructure technologies to consumer electronics manufacturers and software developers worldwide. Gracenote specializes in music recognition and content delivery, and has the largest database of music information in the world. Gracenote delivers compelling, dynamic content customized to the music experience, and it is changing how people enjoy, explore and discover music. Over 4,000 licensees worldwide, serving more than one million consumers daily, rely on Gracenote's CDDB technology for their music information. Gracenote was founded in 1995 and is headquartered in Berkeley, California. For more information about Gracenote, go to http://www.gracenote.com/.Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010605/SFTU032LOGO
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