Nuance Communications said it has signed a definitive agreement to acquire TouchCommerce for $215 million.
TouchCommerce is a technology partner and leader in digital customer service and engagement solutions. Its customer engagement cloud platform increases eCommerce sales and improves the customer service experience.
According to a press statement, the transaction has been approved by both companies’ Boards of Directors and is expected to close by the end of Nuance’s fiscal year 2016.
At closing, Nuance will pay $110 million in cash and $85 million in a combination of cash and Nuance common stock determined by Nuance, and the remaining $20 million will be paid at the conclusion of an indemnity period.
Nuance Communications expects the addition of TouchCommerce will boost its business and expand its customer care solutions with a range of new digital engagement offerings, including live chat, customer analytics and personalization solutions.
“The combination of Nuance and TouchCommerce promises to disrupt the customer service industry by bringing together the best of self-service and the best of assisted-service solutions, each magnified by the power of artificial intelligence,” said Robert Weideman, executive vice president and general manager for Nuance Enterprise Division.
“The result provides enterprises with a customer engagement solution that connects with consumers anytime and anywhere, across voice, digital and mobile devices – delivering superior customer experiences and business results.”