Done Deal: Nuance Buys Swype for $100MPosted by admin on October 06, 2011
10/6/2011 – There’s a Tegic Communications reunion shaping up in Seattle. Documents filed with the SEC show that Nuance Communications is buying mobile software startup Swype for $102.5 million. As we reported last night, based on a source with knowledge of the deal, about three-quarters of the cash is paid up-front with the balance coming in 18 months—provided Swype’s top executives are still around.
The deal was first reported Thursday night by VC and blogger Michael Arrington. My source also said the two companies haven’t yet figured out how many people from the Swype team will eventually join Nuance, which actually has its Seattle offices in the same neighborhood.
It’s an interesting tie-up for Burlington, MA-based Nuance (NASDAQ: NUAN), which actually acquired the forerunner of Swype when it snapped up Tegic from AOL for $265 million in 2007…