The all cash transaction is valued at US $40 million (£27m) and will be financed with a combination of cash and a credit facility.
The transaction is expected to be completed by 31 December 2008, subject to closing conditions.
Nvision chief executive Chuck Meyer said: “We have enjoyed a good relationship with Miranda over several years and I am pleased we will be working together through our next growth phase. By joining forces with Miranda, an industry leader, we gain access to an extensive global distribution network and the ability to offer our customers a broader range of leading edge products.”
According to Strath Goodship, Miranda president and chief executive, the proposed acquisition will help to strengthen Miranda's product offering and competitive stance.
“They are a natural fit with our branding, interfacing and multiviewer product lines and will also bring considerable technical expertise,” he said.
Miranda, manufacturers of signal processors, routers, multi-image display processors and other high-performance equipment and software, employs over 450 people at its Montreal headquarters and in its facilities around the world including Wallingford in the UK.
Nvision provides technology and routing systems for the delivery of audio and video in broadcast and post production environments.
Installations that include Miranda technology include Globecast's playout centre in London (pictured).