Nuance to Sell $175M in Stock
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.
