Nuance (NUAN) to Acquire Ditech (DITC) for $1.45/Share
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Nuance Communications, Inc. (Nasdaq: NUAN) announced it has signed an agreement to acquire Ditech Networks, Inc. (Nasdaq: DITC). Ditech Networks' voice technologies, including the company's Voice Quality Assurance (VQA) technology and PhoneTag voicemail-to-text services, will further enhance Nuance's portfolio of mobile and enterprise voice offerings.
As voice is increasingly integrated with a broad array of products and services, people expect seamless interactions that simply work anytime and anywhere. Ditech Networks' portfolio of voice technologies will help Nuance continue its pace-setting innovations for carriers, consumers and enterprises across an array of products and services. In particular, Ditech Networks' PhoneTag service will enhance Nuance's Dragon Voice to Text Services business by adding important customers and complementary technologies, and further advance innovation supporting Nuance's highly secure, on-premise voice to text platform.
Nuance has agreed to acquire Ditech Networks for $1.45 per share in cash, representing a total enterprise value of approximately $22.5 million , net of Ditech Networks' cash as of the signing date. The transaction has been unanimously approved by the Boards of Directors of each company. The transaction is expected to close late in 2012, subject to Ditech Networks stockholder approval and other closing conditions.
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As voice is increasingly integrated with a broad array of products and services, people expect seamless interactions that simply work anytime and anywhere. Ditech Networks' portfolio of voice technologies will help Nuance continue its pace-setting innovations for carriers, consumers and enterprises across an array of products and services. In particular, Ditech Networks' PhoneTag service will enhance Nuance's Dragon Voice to Text Services business by adding important customers and complementary technologies, and further advance innovation supporting Nuance's highly secure, on-premise voice to text platform.
Nuance has agreed to acquire Ditech Networks for $1.45 per share in cash, representing a total enterprise value of approximately $22.5 million , net of Ditech Networks' cash as of the signing date. The transaction has been unanimously approved by the Boards of Directors of each company. The transaction is expected to close late in 2012, subject to Ditech Networks stockholder approval and other closing conditions.
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