Nuance (NUAN) to Strengthen Voice Portfolio with Acquisition of Ditech (DITC) (ALU) (AUDC)
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Earlier in the session, Nuance Communications (Nasdaq: NUAN) announced that it entered an agreement to acquire Ditech Networks (Nasdaq: DITC) for $1.45 per share, or total value of about $22.5 million.
Ditech and Nuance were competitors in the voice services space, according to Ditech's most recent annual filing. Other than voice services, Ditech also has a presence in such industries as VoIP and stand-alone echo and voice-quality segments as well. Two notable products include Ditech's Voice Quality Assurance (VQA) technology and PhoneTag voicemail-to-text services.
With the acquisition, Nuance said it plans to enhance mobile and enterprise voice offerings.
Though Ditech is a relatively small company, some of its peers that might see some action today include: Sonus Networks (Nasdaq: SONS), Alcatel-Lucent (NYSE: ALU), Audiocodes (Nasdaq: AUDC), Acme Packet (Nasdaq: APKT), Tellabs (Nasdaq: TLAB), and many others.
Shares of Ditech were halted, while Nuance is ticking higher Tuesday morning.
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Ditech and Nuance were competitors in the voice services space, according to Ditech's most recent annual filing. Other than voice services, Ditech also has a presence in such industries as VoIP and stand-alone echo and voice-quality segments as well. Two notable products include Ditech's Voice Quality Assurance (VQA) technology and PhoneTag voicemail-to-text services.
With the acquisition, Nuance said it plans to enhance mobile and enterprise voice offerings.
Though Ditech is a relatively small company, some of its peers that might see some action today include: Sonus Networks (Nasdaq: SONS), Alcatel-Lucent (NYSE: ALU), Audiocodes (Nasdaq: AUDC), Acme Packet (Nasdaq: APKT), Tellabs (Nasdaq: TLAB), and many others.
Shares of Ditech were halted, while Nuance is ticking higher Tuesday morning.
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