Monotype Imaging to Acquire Bitstream's Front Business for $50M

Monotype Imaging Holdings Inc. TYPE and Bitstream Inc. BITS today announced they have entered into a definitive agreement for Monotype Imaging to acquire Bitstream's font business in an all cash merger valued at $50 million, subject to adjustments based on the closing net asset value of Bitstream. The transaction has been approved by the boards of directors for both companies.