Nuance Closes Acquisition of Focus Infomatics
BURLINGTON, Mass. - Nuance Communications closed its acquisition of Focus Infomatics, Inc. The acquisition expands Nuance's ability to deliver Web-based speech recognition editing services and accelerates Nuance's strategy to automate manual transcription in healthcare.
This acquisition provides Nuance and its Dictaphone iChart Preferred Service Providers with additional infrastructure and capacity.
Focus Infomatics brings customer relationships such as Ardent Healthcare and Brigham and Women's Hospital.
In connection with the acquisition of Focus Infomatics and in accordance with NASDAQ Marketplace Rule 4350, Nuance will grant 185,367 shares of its common stock, in the form of stand-alone restricted stock units, as an inducement material to 61 individuals entering into employment arrangements with Nuance. The restricted stock units will be granted upon the approval of the Compensation Committee of Nuance's Board of Directors, and vest over a three year period, subject to acceleration upon the achievement of certain performance targets.