And still more M&A news: Speech and imaging solutions provider Nuance Communications announced a definitive agreement to acquire mobile voice technology developer VoiceSignal. Per terms of the agreement, total consideration is approximately $293 million, comprising approximately 5.8 million shares of Nuance common stock and a net cash payment of $204 million. The transaction is expected to close in the fiscal fourth quarter.
With the addition of VoiceSignal, Nuance expects to provide voice-based mobile solutions to more than one billion consumers within the next three years, resulting in anticipated total mobility revenues exceeding $125 million in fiscal year 2008. Together Nuance and VoiceSignal will emphasize mobile search, messaging, command, control and consumer safety services. The combined company will include among its mobility customers AOL, AT&T, Rogers Wireless, Sprint, RIM, T-Mobile and Vodafone.
For more on the deal:
- check out this press release