The total consideration for the transaction was $215.0m. At the closing, Nuance paid $110.0m in cash (excluding certain closing adjustments) and $85.0m, or 5.7m shares, in Nuance common stock.
The remaining $20.0m will be paid at the conclusion of an indemnity period subject to reduction for any indemnity claims.
Led by Bernard Louvat President and Chief Executive Officer, and Rick Hoefert, Chief Operating Officer, TouchCommerce provides enterprises with a customer engagement cloud platform to engage their customers on any device through online chat, guides, personalized content, and other automated tools.
Nuance is a provider of voice and language solutions for businesses and consumers around the world. The addition of TouchCommerce will accelerate the company’s enterprise business and expand its customer care solutions with a range of new digital engagement offerings, including live chat, customer analytics and personalization solutions.
TouchCommerce was a portfolio company of Second Alpha Partners, a private equity firm focused on secondary investments in growth equity, middle market and mature venture stage tech companies.