Nuance Announces Filing of Form 10 Registration Statement for Planned Spin-Off of Cerence Inc.
August 22 2019 - 6:21PM
Nuance Communications, Inc. (NASDAQ: NUAN) today announced the
initial public filing of a Form 10 Registration Statement with the
U.S. Securities and Exchange Commission for the previously
announced spin-off of Nuance’s Automotive business into an
independent, publicly-traded company, named Cerence Inc.
The Form 10 filing provides detailed information on Cerence’s
business, strategy and historical financial results. It is
available at www.sec.gov under “Cerence”. Additional
information can be accessed at the Cerence Resource
Center on the Nuance investor relations website.
“Coming off a strong fiscal Q3 and year-to-date performance, the
Automotive business is firing on all cylinders,” said Mark
Benjamin, chief executive officer at Nuance. “The team has an
outstanding track record of innovation and operational excellence
and I’m confident this will continue after the spin-off.”
The Form 10 filing will be updated in subsequent amendments as
additional information for the spin-off is finalized.
About Nuance Automotive (Cerence
Inc.)The business delivers immersive experiences
that make people feel happier, safer, more informed, and more
entertained in their cars. Bringing together voice, touch, gesture,
emotion, and gaze innovations, it creates deeper connections
between drivers, their cars and the digital world around them. It
currently powers A.I. in more than 280 million cars on the road
globally across more than 40 languages and for nearly every major
automaker in the world, including Audi, BMW, Daimler, Ford, Geely,
GM, SAIC, Toyota, and many more. For more information, visit
www.cerence.com.
About Nuance Communications, Inc.Nuance
Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in
conversational AI innovations that bring intelligence to everyday
work and life. The Company delivers solutions that understand,
analyze and respond to human language to increase productivity and
amplify human intelligence. With decades of domain and
artificial intelligence expertise, Nuance works with thousands of
organizations – in global industries that include healthcare,
telecommunications, automotive, financial services, and retail – to
create stronger relationships and better experiences for their
customers and workforce. For more information, please
visit www.nuance.com.
Trademark reference: Nuance and the Nuance logo are registered
trademarks or trademarks of Nuance Communications, Inc. or its
affiliates in the United States and/or other countries. All other
trademarks referenced herein are the property of their respective
owners.
Additional InformationFor additional
information with respect to Cerence and the proposed spin-off,
please refer to the Form 10 registration statement filed by
Cerence. The spin-off is subject to customary conditions and
regulatory approvals, including final approval by Nuance’s board of
directors and the effectiveness of the Form 10 registration
statement filed by Cerence. This communication shall not constitute
an offer of any securities for sale, nor shall there be any offer,
sale or distribution of securities in any jurisdiction in which
such offer, sale or distribution would be unlawful prior to
appropriate registration or qualification under the securities laws
of such jurisdiction.
Note on Forward-Looking StatementsThis press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management’s current
expectations and are subject to uncertainty and changes in
circumstances. These risks and uncertainties include, among other
things, Nuance’s ability to successfully completely the spin-off of
its Automotive business on a tax-free basis, within the expected
time frame or at all; Cerence’s ability to executive its operating
and strategic plans; and other risks that are set forth in the
“Risk Factors” section, the “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” section and other
sections of our most recent annual report on Form 10-K and
subsequent reports on Forms 10-Q and 8-K, and Cerence’s Form 10
Registration Statement filed with the SEC. Nuance assumes no
obligation to update any forward-looking statements as a result of
new information or future events or developments, except as
required by law.
Contact Information
For Investors: Cerence Inc.Email: investors@cerence.com
Tracy Krumme Nuance Communications, Inc. Tel: 781-565-4334
Email: tracy.krumme@nuance.com
For Press: Kate Hickman Nuance Communications, Inc. Tel:
781-565-4627 Email: kathryn.hickman@nuance.com
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