Culture

Short Take: Sonic Foundry to acquire International Image

Sonic Foundry, which develops and markets digital media and Internet software tools and services, agreed to acquire International Image in a cash-and-stock transaction valued at $24 million. In part of the deal, Sonic agreed to assume an undisclosed amount of the company's debt. International Image is a supplier of technical services for television program distribution. The combined company would total more than 400 employees.

Jan. 2, 2002 4:43 p.m. PT

Sonic Foundry, which develops and markets digital media and Internet software tools and services, agreed to acquire International Image in a cash-and-stock transaction valued at $24 million. In part of the deal, Sonic agreed to assume an undisclosed amount of the company's debt. International Image is a supplier of technical services for television program distribution. The combined company would total more than 400 employees.