Nuance Communications Inc. (NUAN) said it would acquire Ditech Networks Inc. (DITC) for $1.45 per share in cash, representing a total enterprise value of about $22.5 million, net of Ditech Networks' cash as of the signing date. Ditech Networks' voice technologies, including the company's Voice Quality Assurance or VQA technology and PhoneTag voicemail-to-text services, would further enhance Nuance's portfolio of mobile and enterprise voice offerings, the company added.
Particularly, Ditech Networks' PhoneTag service would improve 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, according to the company.
The transaction may close late in 2012, subject to Ditech Networks stockholder approval and other closing conditions.
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