Roxio, creators of Toast, today announced it will acquire MGI Software—creators of the popular PhotoSuite and VideoWave products—for about US$32.8 million in stock. “The combination of Roxio and MGI is key to Roxio’s long-term strategy of providing a world-class suite of digital media products and is expected to result in the industry’s most comprehensive product line-up for consumers to enjoy digital media,” reads a part of the press release. The deal is expected to close within 90 days, subject to regulatory approval and the approval of MGI’s shareholders.
