Nuance to Sell $175M in Stock
Robert Buderi1/15/09
Private equity powerhouse Warburg Pincus will buy 17.4 million shares, or $175 million worth, of Nuance Communications (NASDAQ: NUAN) common stock, Nuance announced today. The Burlington, MA-based speech and imaging technology company said it will use the funds to support M&A activity and general corporate purposes. Warburg Pincus will also acquire a warrant to purchase approximately another 3.9 million shares that is good for four years. The common stock deal is expected to close in February.
Bob is Xconomy's founder and editor in chief. You can e-mail him at bbuderi@xconomy.com, call him at 617.500.5926, or follow him on Twitter at http://twitter.com/bbuderi.
