Nuance buys Equitrac, reports strong quarter

Summary:Nuance acquires a print management software company and delivers better-than-expected fiscal second quarter results.

Nuance on Tuesday said it will acquire Equitrac, which provides print management software.

The company said the deal will expand its document imaging unit. In addition to voice recognition, Nuance provides scanning and workflow software via partners such as Canon, Xerox, Konica Minolta, Ricoh and HP. Terms of the acquisition weren't disclosed.

Nuance, which has been in the news of late over a potential partnership with Apple, added that it will continue to offer its eCopy and Equitrac software as standalone products. Equitrac also brings more verticals---finance, legal, education, government and healthcare---to Nuance, which already has a good set of hospitals as customers.

Separately, Nuance reported fiscal second quarter earnings of $1.7 million, or a penny a share, on revenue of $319 million. Non-GAAP earnings were $99.9 million, or 32 cents a share. Wall Street was looking for earnings at 31 cents a share.

Other key points from Nuance's second quarter:

  • Healthcare revenue was $121 million, up 13.2 percent from a year ago.
  • Mobile and consumer revenue was $93.7 million, up 16 percent from a year ago.
  • Enterprise revenue was $74 million, up 3.8 percent from a year ago.
  • Imaging revenue was $43.2 million, up 27.4 percent from a year ago.

Topics: Software, Banking, Data Management, Enterprise Software

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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