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Sony Said to Explore Sale of Gracenote Audio-Recognition Service

Sony Corp., looking to shed units to focus on fewer products, hired Frank Quattrone’s Qatalyst Partners to explore a sale of its Gracenote audio-recognition software business, two people briefed on the matter said.

The unit, which is seeking to be an independent company and is talking with private-equity firms, has annual revenue of $100 million to $200 million, said one of the people, who asked not to be named because it’s still early in the sale process. Sony, which acquired Gracenote in 2008 for about $260 million, may reach an agreement by the end of the year, the person said.