Pico Digital Inc. of San Diego has reached an agreement to purchase the "key" assets of Ottawa's International Datacasting Corp., the companies said in a joint news release Wednesday. The announcement said Pico would acquire International Datacasting's broadcast products business, which would include its product portfolio, customer base and supplier relationships. It said most of International Datacasting employees would join Pico. Pico is described in the release as "a worldwide leader in providing multimedia delivery solutions to customers in the broadcast, cable, satellite and broadband markets." The announcement noted International Datacasting's Laser multi-program splicer was included in the deal, which the release said "is the industry’s most cost-effective solution for performing seamless broadcast program and ad insertion on multiple channels simultaneously," which in turn "empowers broadcasters to deliver a more relevant and compelling advertising solution, positioning television broadcasters for increased success." International Datacasting said in a separate release on the investors' section of its website that the deal is worth $4.1 million US in cash. It said certain assets, including intellectual property, are excluded from the agreement, and a committee is exploring options for those parts of the company. The acquisition is expected to close in June, pending approval from International Datacasting shareholders, the companies said.