Nuance acquiring TouchCommerce for $215M

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Nuance, the Burlington speech recognition software company, is diving deeper into the customer engagement industry with its latest buy.

The company (Nasdaq: NUAN) on Thursday said that it was spending $215 million to buy California’s TouchCommerce, a maker of software that powers live chat, self-service guides and data-driven personalization on various corporate websites. TouchCommerce, which had been a Nuance technology partner, counts Comcast, Citizens Banks and AT&T as some clients.

Nuance said it will pay $110 million in cash and $85 million in a combination of cash and Nuance common stock determined by Nuance, and the remaining $20 million will be paid.

The deal has been approved by both companies boards of directors and is expected to close by the end of this year, according to Nuance.

Read the source article at Business News