Nuance Completes Sale of Document Imaging Division to Kofax
On February 1st, Nuance Communications reported that it had completed the sale of its Document Imaging division to Kofax, Inc. for $400 million.
According to the firm, the sale will allow Nuance to focus its business on its conversational AI- and cloud-based solutions, while simplifying its organization and improving its growth. With the sale to Kofax, Nuance says its Document Imaging division joins a “company strategically aligned with its product portfolio providing a path forward for continued growth.”
Nuance had announced that it would be selling its Document Imaging division to Kofax, which provides enterprise software solutions, in November 2018.
Kofax, which was previously a part of Lexmark International, was acquired by private-equity firm Thomas Bravo in July 2017.