$400 million! Nuance Sells Its Document-Imaging Business to Kofax

Originally published at wirthconsulting.org.

Nuance to Sell Document-Imaging Business to Kofax

Nuance Communications reported today that it’s signed a definitive agreement to sell its Document Imaging division to Kofax, Inc. for $400 million in cash.

According to Nuance, the sale will enables Nuance to focus its business entirely on its conversational AI- and cloud- based solutions, while simplifying the organization and improving its growth profile.

For Kofax, which provides enterprise software solutions, the Document Imaging division is said to bolster the company’s leadership in Intelligent Automation technologies. The deal, which is subject to customary closing conditions, is expected to close by the end of Nuance’s second fiscal quarter.

Kofax, which was previously a part of Lexmark International, was acquired by private-equity firm Thomas Bravo in July 2017.

Nuance Document Imaging is said to provide the software solutions and expertise required by professionals and organizations to more securely and efficiently optimize information-centric processes. The company’s portfolio enables strict compliance with information-security policies and regulations, while enabling organizations to streamline and eliminate gaps across the full spectrum of workflows spanning the lifecycle of their documents from origin to archiving. 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.