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 sources 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, according to one of the sources, 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 source said.