Kofax’s $400 Million Acquisition of Nuance Document Imaging Division


BofA Merrill Lynch served as Nuance’s financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Baker McKenzie served as Nuance’s legal advisors on the transaction.

Nuance Communications, Inc. (NASDAQ: NUAN) has signed a definitive agreement to sell its Document Imaging division to Kofax, Inc. The sale enables Nuance to focus the business entirely on its conversational AI- and cloud- based solutions while simplifying the organization and improving its growth profile. For Kofax, the Document Imaging division bolsters the company’s leadership in Intelligent Automation technologies. Total consideration for the transaction is $400 million in cash. The deal, which is subject to customary closing conditions, is expected to close by the end of Nuance’s second fiscal quarter.

Nuance Document Imaging provides the software solutions and expertise required by professionals and organizations to more securely and efficiently optimize information-centric processes. The Company’s expansive portfolio enables strict compliance with information security policies and regulations while enabling organizations to streamline and eliminate gaps across the full spectrum of workflows spanning the lifecycle of their documents from origin to archiving. For users, Nuance’s Imaging solutions deliver an experience that is consistent, familiar and intuitive for more efficient, natural, and intelligent interactions with technologies used to create, capture, and process documents.

Paul, Weiss advised Nuance Communications, Inc. with a team including corporate partner Steven Williams (Picture) and includes corporate partner Scott Barshay and counsel Caith Kushner; tax partners Patrick Karsnitz and Jeffrey Samuels; real estate partner Peter Fisch; employee benefits partner Lawrence Witdorchic and counsel Jason Ertel; intellectual property partner Claudine Meredith-Goujon and counsel Jonathan Ashtor; antitrust counsel Marta Kelly; international trade counsel Richard Elliott; litigation counsel Peter Jaffe; and environmental counsel William O’Brien.

Involved fees earner: Steven Williams – Paul Weiss Rifkind Wharton & Garrison; Scott Barshay – Paul Weiss Rifkind Wharton & Garrison; Caith Kushner – Paul Weiss Rifkind Wharton & Garrison; Patrick Karsnitz – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Samuels – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Jason Ertel – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Jonathan Ashtor – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Nuance Communications Inc.;

Author: Ambrogio Visconti