The provider of voice and language solutions, Nuance Communications, Inc has announced that it has closed the acquisition of TouchCommerce, a technology partner and leader in digital customer service and engagement solutions in a transaction reported to be worth $215 million.
In light of the recent ‘TouchAssist’ launch, TouchCommerce’s customer engagement cloud platform is used by a number of large enterprises around the world, and claims to increase eCommerce sales and improve the overall customer service experience.
The addition of TouchCommerce to Nuance’s portfolio business will further advance and expand its customer care solutions with a range of new digital engagement offerings, including live chat, customer analytics and personalisation solutions.
At the closing, Nuance paid $110 million in cash (excluding certain closing adjustments) and $85 million, or 5.7 million shares, in Nuance common stock. The remaining $20 million will be paid at the conclusion of an indemnity period, subject to reduction for any indemnity claims.