Nuance To Sell Document Imaging Division To Kofax - Quick Facts

(RTTNews) - Nuance Communications, Inc. (NUAN) announced a definitive agreement to sell its Document Imaging division to Kofax, Inc. The sale enables Nuance to focus the business entirely on its conversational AI- and cloud- based solutions while simplifying the organization. Total consideration for the transaction is $400 million in cash.

Nuance Document Imaging provides the software solutions and expertise required by professionals and organizations to more securely and efficiently optimize information-centric processes.

"Through the acquisition of Nuance's Document Imaging division, Kofax will drive customer value by adding key technologies, including cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, to our end-to-end Intelligent Automation platform," said Reynolds Bish, CEO of Kofax.