Tuesday, Speech and imaging solutions provider Nuance Communications, Inc. (NUAN) stated that it has signed a definitive agreement to acquire privately held on-device self-service software provider SNAPin on a stock deal worth $180 million. The acquisition will be accretive to fiscal 2009 revenue of Nuance. Nuance's mobile solutions combined with powerful technology from SNAPin will enable the unified company to deliver the economies of web-based self-service to the mobile customers. The transaction is expected to close in October 2008, subject to customary closing conditions and approvals.
Under the terms of the acquisition agreement, SNAPin's shareholders will be eligible for additional earn-out consideration based upon the achievement of certain financial and operational milestones.
The merged entity is expected to deliver effective care for cents-per-call compared to agent assisted calls that costs $4.50 per call on an average. An estimated 200 billion calls are placed into customer service numbers around the world every year of which one-third of the calls are placed from mobile phones and is expected to grow to two-thirds before the end of the decade.
Nuance expects the acquisition in fiscal 2009 to generate additional non-GAAP revenue in the range of $29 million to $32 million and GAAP revenue in the range of $19 million and $22 million after adjusting revenue lost to purchase accounting. Adjusted earnings are expected in the range of $0.01 to $0.02 per share and a GAAP loss, in the range of $0.05 to $0.06 per share, including amortization and stock-based compensation.
The company anticipates combined mobile revenues for fiscal year 2009 in the range of $260 to $275 million.
Nuance closed Tuesday's regular trading at $ 16.04, down $0.29 or 1.78% on a volume of 1,639,179 shares on the Nasdaq. In after-hours trade, the stock is currently trading at $16.15, up $0.11 or 0.70%.
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