Fairmount Partners represented Ditech Networks, a leader in delivering advanced voice applications and voice enhancement technologies, as their exclusive financial advisor in completing the transaction below.
Official Press Release:
Burlington, Mass. – December 4, 2012 – Nuance Communications, Inc. (NASDAQ: NUAN) announced it has closed its acquisition of Ditech Networks, Inc. (NASDAQ: DITC). Ditech Networks’ voice technologies, including the company’s Voice Quality Assurance (VQA) technology and PhoneTag voicemail-to-text services, will be integrated into Nuance’s portfolio of mobile and enterprise voicemail-to-text offerings.
Nuance’s voice solutions power services for global carriers and enterprises that quickly and accurately transcribe voice messages, and deliver them as text messages, emails and IMs to people’s phones, tablets and desktop computers. By integrating Ditech Networks’ voice technologies, Nuance will further enhance its on-premise, highly-secure voice to text platform, and expand its cloud-based voicemail-to- text capabilities.
About Nuance Communications, Inc.
Nuance is a leading provider of voice and language solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. Every day, millions of users and thousands of businesses experience Nuance’s proven applications and professional services. For more information, please visit: nuance.com.
About Fairmount Partners
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount’s Technology Group focuses on technology businesses, especially in the software and telecommunications arenas, including enterprise software, vertical applications (e.g., financial technology and health-care IT), infrastructure software, telecommunications equipment, digital advertising and other specialty arenas. Fairmount has completed transactions throughout North and South America, Europe and Asia. For more information, visit: www.fairmountpartners.com
About Ditech Networks
Ditech Networks provides advanced voice processing solutions that enable carriers, enterprises, and consumers to benefit from the power and simplicity of human speech. Ditech’s solutions include highly accurate voice-to-text recognition to bridge the spoken world into the Web 2.0 world as well as speech enhancement to assist in enhancing spoken communication.
Leveraging over 20 years of deployments with communications providers around the world, Ditech’s products help global communications companies meet the multiple challenges of service differentiation, network expansion, and call capacity, by delivering consistent, dependable voice quality. Ditech’s customers include Verizon, Sprint/Nextel, Cincinnati Bell, Orascom Telecom, AT&T, Telus, and West Corporation. Ditech Networks is headquartered in San Jose, California. www.ditechnetworks.com
Principals of Fairmount Partners acted as advisors to Ditech Networks in this transaction.
Contact: Charles Robins