Nuance has closed the acquisition of Vocada, Inc, a leading provider of critical test result management solutions.
United States of America (Press Release) November 6, 2007 --
Nuance Communications, Inc. (NASDAQ: NUAN), the world's leading supplier of speech solutions, today announced it has closed the acquisition of Vocada, Inc, a leading provider of critical test result management solutions.
The combination of Nuance and Vocada will broaden the capabilities of the Dictaphone® Healthcare solutions, extend the company's domain expertise within diagnostic specialties (including radiology, lab, pathology and cardiology) and accelerate revenue growth through software as a service (SaaS) offerings. In addition, these offerings will help healthcare provider organizations comply with industry mandates associated with the time in which critical test results are identified, documented and communicated.
In connection with the acquisition of Vocada and in accordance with NASDAQ Marketplace Rule 4350, Nuance will grant 280,899 shares of its common stock, in the form of stand-alone restricted stock units, as an inducement that is material to 20 individuals entering into employment arrangements with Nuance. The restricted stock units will be granted upon the approval of the Compensation Committee of Nuance's Board of Directors. 140,415 of the restricted stock units vest over a three year period and 140,472 of the restricted stock units vest over a three year period, subject to the achievement of certain performance-based objectives.
Source: http://www.nuance.com/
The combination of Nuance and Vocada will broaden the capabilities of the Dictaphone® Healthcare solutions, extend the company's domain expertise within diagnostic specialties (including radiology, lab, pathology and cardiology) and accelerate revenue growth through software as a service (SaaS) offerings. In addition, these offerings will help healthcare provider organizations comply with industry mandates associated with the time in which critical test results are identified, documented and communicated.
In connection with the acquisition of Vocada and in accordance with NASDAQ Marketplace Rule 4350, Nuance will grant 280,899 shares of its common stock, in the form of stand-alone restricted stock units, as an inducement that is material to 20 individuals entering into employment arrangements with Nuance. The restricted stock units will be granted upon the approval of the Compensation Committee of Nuance's Board of Directors. 140,415 of the restricted stock units vest over a three year period and 140,472 of the restricted stock units vest over a three year period, subject to the achievement of certain performance-based objectives.
Source: http://www.nuance.com/
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