Kofax Buys a Division of Nuance Communications for $400M in Cash [TheStreet.com]
Nuance Communications, Inc. (NUAN)
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Source: TheStreet.com
Kofax agrees to buy Nuance Document Imaging. M. Corey Goldman Nov 12, 2018 12:50 PM EST Robotic process automation software provider Kofax Inc. announced on Monday, Nov. 12, that it has agreed to buy Nuance Document Imaging, a division of Nuance Communications Inc. NUAN, for $400 million in cash. The deal, which is expected to be completed by the end of the first quarter of 2019, will enhance Kofax's offerings in cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, the companies said in a statement. Kofax, itself acquired by private-equity firm Thoma Bravo for $1.5 billion last year, continues to build up its Robotic Process Automation business - the area of enterprise IT services that uses machine learning, computer vision and other AI-based tools to automate
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