Nuance Communications has officially closed the acquisition of Zi Corporation. As a result, Zi’s complementary solutions for mobile search and text input will become part of Nuance’s portfolio of intuitive touch and speech interfaces.
As for the financial details, Zi shareholders will receive $0.34 in cash and approximately .037 shares of Nuance common stock for each common share of Zi that they own. Trading in Zi common stock has ceased on NASDAQ and the Toronto Stock Exchange (TSX).
Commenting on the announcement, Nuance’s Steve Chambers said: “…Zi acquisition is also a key component of a broader Nuance strategy to give mobile device manufacturers and operators the ability to deliver breakthroughs in device accessibility via speech, predictive text and search, handwriting recognition, and powerful call-intercept capabilities.”