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Under the terms, Image stockholders will receive $2.75 a share in cash, a 299 percent premium to Image's closing share price of $0.69 on Thursday.
Stockholders owning about 38 percent of Image's stock have agreed to vote their shares in favor of the transaction, the company said.
Nyx Acquisitions is a wholly-owned unit of Q Black Media, a privately held, San Francisco-based new media investment group.
Chatsworth, California-based Image is a licensee, producer and distributor of home entertainment programming in North America.
(Reporting by S. John Tilak in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: IMAGEENTERTAINMENT/ (john.tilak@thomsonreuters.com; +1 646 223 8780; outside U.S. +91 80 4135 5800 +1 646 897 1898; Reuters Messaging: john.tilak.reuters.com@reuters.net)
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