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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.

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.