Nuance to Acquire Needham's eScription for $363 Million - Burlington, MA

Nuance Communications, a Burlington-based provider of speech and imaging technology, announced that it has signed an agreement to acquire eScription, a Needham-based provider of computer-aided medical transcription technology, for $363 million. Founded in 1999 and privately held, eScription offers voice-recognition software that automates the process of medical transcription. In connection with the acquisition, the private equity firm Warburg Pincus has agreed to purchase about 5.8 million shares of Nuance common stock at a price of $17.36 per share. The deal is expected to close in the third quarter of this year.

http://www.nuance.com/news/pressreleases/2008/20080408_escription.asp