Nuance to Sell Document Imaging Division to Kofax for $400 Million
Nuance Communications has signed a definitive agreement to sell its Document Imaging division to Kofax.
Total consideration for the transaction is $400 million in cash. The deal, which is subject to customary closing conditions, is expected to close by the end of Nuance’s second fiscal quarter.
Details will be discussed on Nuance’s November 19, 2018 fourth quarter earnings call.
According to Nuance, the sale will enable it to focus the business entirely on its conversational AI- and cloud- based solutions while simplifying the organization and improving its growth profile.
Kofax says the Document Imaging division will bolster the company’s leadership in Intelligent Automation technologies.
For users, Nuance’s Imaging solutions deliver an experience that is consistent, familiar and intuitive for more efficient, natural, and intelligent interactions with technologies used to create, capture, and process documents.
For more information, go to www.nuance.com and www.kofax.com and www.nuance.com.