Akamai Technologies Inc. has agreed to purchase Nine Systems Corp., a provider of rich media production, publishing and distribution solutions, in a transaction valued at about $160 million.

The deal will call for Akamai to exchange 3.1 million shares of Akamai common stock, which closed at $49.25 per share last week, plus $7 million in cash for all of the outstanding common stock, preferred stock and vested and unvested stock options of Nine System, Internet Retailer reports.The deal is expected to close by yearend, pending approval of Nine Systems' stockholders.

Akamai, plans to integrate Nine Systems' Stream OS, a suite of configurable rich media management tools, into its global network.

"We are excited about offering a new and comprehensive solution for the delivery, management and control of online media assets," said Paul Sagan, Akamai's president and CEO, in a statement.

"Nine Systems has established itself as a leader in the creation of powerful web-based tools for businesses to easily produce, publish and distribute their streaming and downloadable media. Integrating Stream OS into our delivery network will allow Akamai to more fully support asset controls, rights management, and media reporting to better enable our customers' digital media businesses."