Key Developments: Nuance Communications Inc (NUAN.O)

Latest Key Developments (Source: Significant Developments)

Nuance Communications Inc Proposes $600 Million Offering of Senior Notes
Monday, 6 Aug 2012 04:24pm EDT

Nuance Communications Inc announced that it intends to offer, subject to market and other considerations, approximately $600 million aggregate principal amount of senior notes due 2020 (the Notes) through an offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The notes will be fully and unconditionally guaranteed on a senior, unsecured basis by substantially all of Nuance’s domestic subsidiaries. The terms of the Notes will permit holders to require Nuance to repurchase their Notes upon the occurrence of certain change of control events at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any. The interest rate, redemption provisions and other terms of the Notes will be determined by negotiations between Nuance and the initial purchasers. Nuance intends to use the net proceeds for acquisitions and general corporate purposes, including working capital and capital expenditures. Full Article

Nuance Communications Inc Closes Acquisition Of Transcend Services, Inc.
Friday, 27 Apr 2012 08:00am EDT

Nuance Communications Inc announced that the Company has closed the acquisition of Transcend Services, Inc., a provider of medical transcription and speech editing services. Full Article

Nuance Communications Inc Raises Q2 2012 Guidance
Thursday, 26 Apr 2012 08:01am EDT

Nuance Communications Inc announced that it expects second quarter of 2012 non-GAAP revenues between $416 million and $418 million; GAAP revenues between $389 million and $391 million; non-GAAP net income between $0.42 and $0.43 per diluted share; and GAAP net income between $0.00 and $0.01 per diluted share. On February 9, 2012, the Company provided initial guidance for second quarter of 2012 of non-GAAP revenues between $395 and $415 million; GAAP revenues between $371 and $391 million; non-GAAP EPS between $0.36 and $0.40; and GAAP EPS between ($0.07) and ($0.03). Full Article

Nuance Communications Inc Waives eScription Condition In Tender Offer For Transcend Shares
Thursday, 19 Apr 2012 08:00am EDT

Nuance Communications Inc announced that Nuance and its wholly owned subsidiary, Townsend Merger Corporation, have waived the eScription Condition, as described in the Offer to Purchase dated March 20, 2012, in connection with the cash tender offer for all outstanding shares of common stock of Transcend Services, Inc. The tender offer is scheduled to expire at 5:00 p.m., New York City time, on Wednesday, April 25, 2012, and the transaction is expected to close shortly thereafter. The tender offer is being made pursuant to an Offer to Purchase dated March 20, 2012 and in connection with an Agreement and Plan of Merger dated as of March 6, 2012. Except for the waiver of the eScription Condition, all other terms and conditions of the tender offer remain unchanged. Full Article

Nuance Communications Inc's Townsend Merger Corporation Extends Offer to Acquire Transcend Services, Inc.
Tuesday, 17 Apr 2012 08:00am EDT

Nuance Communications Inc announced that its wholly owned subsidiary, Townsend Merger Corporation, has extended the expiration of its cash tender offer for all outstanding shares of common stock of Transcend Services, Inc., for $29.50 per share, without interest and less any applicable withholding taxes, until 5:00 p.m., New York City time, on April 25, 2012. The tender offer was extended because the eScription Condition, as described in the Offer to Purchase dated March 20, 2012, had not yet been satisfied as of the scheduled expiration of the offer. The tender offer is being made pursuant to an Offer to Purchase dated March 20, 2012 and in connection with an Agreement and Plan of Merger dated as of March 6, 2012. Except for the extension of the tender offer, all other terms and conditions of the tender offer remain unchanged. Computershare Trust Company, N.A., the depositary for the offer, has indicated that, as of 12:00 midnight, New York City time, at the end of the day on April 16, 2012, 9,802,090 shares of common stock of Transcend (including 691,926 shares of common stock tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase) have been tendered into and not withdrawn from the tender offer, representing approximately 91.66% of the shares of common stock of Transcend outstanding. Full Article

Quality Systems, Inc.'s Subsidiary NextGen Healthcare Enters Into Reseller Agreement With Nuance Communications
Tuesday, 27 Mar 2012 05:00am EDT

Quality Systems, Inc.'s Subsidiary NextGen Healthcare Information Systems, Inc., announced that it has entered a reseller agreement with Nuance Communications, Inc. clinical language understanding and analytics solutions to more than 450,000 physicians and 10,000 healthcare institutions worldwide. Under the agreement, NextGen Healthcare will resell Nuance’s Dragon Medical speech recognition software to its NextGen Ambulatory EHR clients, enabling physicians and administrators to navigate, dictate and correct medical documents by voice, directly within the electronic health record (EHR). Full Article

Spansion Inc. Announces Partnership With Nuance Communications Inc. To Accelerate Voice Recognition Innovation For The Embedded Market
Wednesday, 21 Mar 2012 08:00am EDT

Spansion Inc. announced a partnership with Nuance Communications Inc., to accelerate voice recognition innovation for embedded technologies. As innovators of semiconductor products and voice recognition respectively, Spansion and Nuance are working together on enhancing the responsiveness and quality of voice recognition for embedded solutions addressing the automotive, gaming and consumer electronics applications. Spansion will be integrating Nuance's voice recognition technology as part of these systems, and initially deploying them in automotive environments where increased processing and memory are critical for in-car entertainment, connectivity, navigation and safety technologies. By integrating Nuance's voice capabilities, automotive manufacturers will be able to further minimize visual-manual distractions. Additionally, Nuance and Spansion are working together to integrate their products to improve the quality and latency of speech search for accurate data. The companies have combined their latest technology capabilities on a demo platform, which is currently under evaluation by several automotive makers and suppliers. Spansion will also integrate Nuance's voice technology as part of systems tailored for the gaming and consumer electronics market, giving OEMs the ability to bring to market faster voice recognition processing for both embedded command and contro Full Article

Nuance Communications Inc To Acquire Transcend Services, Inc.
Wednesday, 7 Mar 2012 08:00am EST

Nuance Communications Inc and Transcend Services, Inc. announced a definitive agreement for Nuance to acquire Transcend, a provider of medical transcription and speech editing services, for approximately $300 million, net, in cash. Nuance has agreed to acquire Transcend through a cash tender offer of $29.50 per Transcend share, representing an approximately 30% premium over Transcend’s 90-day volume weighted average share price. The transaction has been unanimously approved by the board of directors of each company. Based on Transcend’s 11.1 million diluted weighted average shares outstanding as of December 31, 2011, the acquisition is valued at approximately $300 million, net of Transcend’s estimated cash at closing. The transaction is expected to close in the second half of Nuance’s fiscal 2012, subject to regulatory approval and other conditions. The tender offer is expected to commence on or before March 20, 2012. Full Article

Nuance Communications Inc To Acquire Vlingo
Tuesday, 20 Dec 2011 09:00am EST

Nuance Communications Inc announced that it has signed an agreement to acquire Vlingo, Inc. Fueled by unprecedented demand for intelligent voice interfaces that combine voice, language understanding and semantic processing. Terms of acquisition were not disclosed. Full Article

Nuance Communications Inc Prices $600 Million Offering Of 2.75% Senior Convertible Debentures
Wednesday, 19 Oct 2011 08:07am EDT

Nuance Communications Inc announced the pricing of an offering of $600.0 million aggregate principal amount of its 2.75% senior convertible debentures due 2031. The sale of the Debentures is expected to close on October 24, 2011. Nuance has granted the initial purchasers a 30-day option to purchase up to an additional $90.0 million aggregate principal amount of Debentures on the same terms and conditions to cover over-allotments, if any. Interest on the Debentures will be paid at a rate of 2.75% per year, payable in cash semi-annually in arrears, beginning on May 1, 2012. The Debentures will mature on November 1, 2031, unless earlier repurchased, redeemed or converted. The aggregate net proceeds to Nuance from the offering of the Debentures will be approximately $587.7 million, exclusive of any proceeds attributable to the initial purchasers' possible exercise of their over-allotment option. Nuance intends to use a portion of the net proceeds to repurchase shares of its common stock pursuant to a Board authorized $200.0 million stock repurchase program, including purchases in negotiated transactions with institutional investors in the offering through one of the initial purchasers, as Nuance’s agent, and in other privately negotiated or market transactions following the offering. Nuance plans to use the balance of the proceeds for potential acquisitions and other strategic transactions, and general corporate purposes, including working capital and capital expenditures. Full Article

Nuance Communications Inc News

Icahn ups stake in Nuance to 10.72 percent from 9.27 percent: filing

NEW YORK - Billionaire investor Carl Icahn increased his stake in speech recognition and digital imaging software maker Nuance Communications Inc from 9.27 percent to 10.72 percent, a filing with the Securities and Exchange Commission showed on Tuesday.

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