Toronto Stock Exchange-listed Miranda Technologies Inc., has entered into an agreement to acquire all of the outstanding shares of privately held NVISION, Inc. of Grass Valley, California.

The all-cash transaction has been valued at US$40 million and will be financed with a combination of cash on hand and a US dollar credit facility.

NVISION is the leading provider of advanced technology and routing systems for the delivery of superior, error-free digital audio and HD/SD video used in all TV broadcast sectors and multi-format post production.

The company's sole focus is the development and manufacture of high-performance, high-reliability, scaleable, and cost-effective router, router control, master control, and modular broadcast systems.

For the twelve months ending September 30, 2008, NVISION had revenues of approximately US$34 million and gross margins in line with Miranda's.

On the other hand, Miranda Technologies develops, manufactures and markets high-performance hardware and software for the television broadcast industry.

The transaction is expected to close by December 31, 2008, subject to closing conditions.