Sony to buy Gracenote for $260 million

(Reuters) - Sony Corporation of America, a U.S. unit of Japan's Sony Corp, 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.

(Reporting by Varsha Tickoo in Bangalore; Editing by Gopakumar Warrier)