Nuance Closes Acquisition of TouchCommerce
August 16 2016 - 4:01PM
Business Wire
Transaction Accelerates Growth of Nuance Enterprise Business
and Expands Its Portfolio with Digital Customer Engagement
Nuance Communications, Inc. (NASDAQ: NUAN) today announced that
it has closed the acquisition of TouchCommerce, a technology
partner and leader in digital customer service and engagement
solutions. Used by leading enterprises, TouchCommerce’s customer
engagement cloud platform increases eCommerce sales and improves
the customer service experience. The addition of TouchCommerce will
accelerate Nuance’s Enterprise business and expand its customer
care solutions with a range of new digital engagement offerings,
including live chat, customer analytics and personalization
solutions.
Total consideration for the transaction is $215.0 million.
At the closing, Nuance paid $110.0 million in cash (excluding
certain closing adjustments) and $85.0 million, or 5.7 million
shares, in Nuance common stock. The remaining $20.0
million will be paid at the conclusion of an indemnity period
subject to reduction for any indemnity claims.
About Nuance Communications, Inc.Nuance Communications,
Inc. (NASDAQ: NUAN) is a leading provider of voice and language
solutions for businesses and consumers around the world. Its
technologies, applications and services make the user experience
more compelling by transforming the way people interact with
devices and systems. Every day, millions of users and thousands of
businesses experience Nuance’s proven applications. For more
information, please visit: www.nuance.com.
Nuance and the Nuance logo are trademarks or registered
trademarks of Nuance Communications, Inc. or its subsidiaries in
the United States of America and/or other countries. All other
company names or product names may be the trademarks of their
respective owners.
Safe Harbor and Forward-Looking StatementsThis press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve
risks, uncertainties and assumptions that, if they never
materialize or if they prove incorrect, could cause the predicted
results of our acquisition of TouchCommerce to differ materially
from those expressed or implied by such forward-looking statements.
These forward-looking statements include, but are not limited to,
predictions regarding the benefit to our Enterprise business and
our ability to expand the customer base for our Enterprise
solutions. Our actual results could differ materially from those
anticipated in these forward-looking statements for many reasons,
including but not limited to: an inability to introduce
TouchCommerce products into our customer base and or failure to
obtain customer acceptance of combined solutions; difficulties in
integrating the differing technology solutions; disruption in the
business relationships with TouchCommerce’s key customers; and
failure to retain and motivate TouchCommerce personnel; and other
risks customary to achieving the benefits of acquisitions. These
risks as well as other risks associated with our business are
described in our annual report on Form 10-K for the fiscal year
ended September 30, 2015, as amended by our current report on form
8-K filed on May 11, 2016 and our quarterly and other reports filed
with the Securities and Exchange Commission. We disclaim any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this document.
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For Press and InvestorsNuance Communications, Inc.Richard
Mack, 781-565-5000richard.mack@nuance.com
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