Nuance Communications Inc has bought Swype Inc mobile software company for $102.5 million.
According to a filing with the U.S. Securities and Exchanges Commission, speech and digital imaging software maker Nuance Communications Inc said it has bought Swype Inc. Swype is best known for having developed the virtual keyboard that’s exceedingly popular on Android devices. Nuance is best known for its speech-recognition technologies. $77.5 million will be paid when the deal closes and $25 million will be payable 18 months after as a “contingent consideration”. Swype’s more than 90 employees won’t have far to travel to become part of Nuance, which maintains a large engineering center in Seattle’s Pioneer Square neighborhood just five blocks south of the Swype headquarters. It is a great outcome for employees of Swype and every single employee in the company is going to have options that have value.