At Last, Speech Recognition Specialist Nuance Acquires Zi For $35 Million

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Speech recognition software provider Nuance will acquire Canadian text input technology specialist Zi for $35 million, ending a 7-month bid that grew increasingly bitter between the two companies. Burlington, Mass-based Nuance said it will pay Zi shareholders $17 million in cash and $18 million in Nuance common stock, which equates to $0.69 per share, split between $0.34 in cash and approximately .04 shares of Nuance stock. The purchase price represents a 73 percent premium over the smaller company

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