Media 100 has finalized the sale of its streaming-media software assets to Autodesk's Discreet division.

Media 100 gains $16 million through this all cash deal. The companies announced plans to engage in the sale on August 30. Discreet is purchasing all the intellectual property and branding rights of Media 100's CineStream and Cleaner families of streaming media products.

John Molinari, president and CEO of Media 100, said: "While this announcement signals the close of a very important transaction for the company, it also ushers in a new era of development and innovation."

"We're taking this company forward, bringing renewed energy and focus to our new, next-generation digital-media systems which we believe bring us significant opportunity for enduring success."