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Nuance Communications Inc. today announced it has acquired eCopy Inc. for $54 million in stock. Nashua, N.H.-based eCopy provides systems for integrating paper documents into business software applications.
Burlington-based Nuance (Nasdaq: NUAN), which is primarily known for its voice recognition software, will integrate eCopy’s server offerings with its document imaging business. Nuance said the integration will turn the company’s multifunction printer (MFP) desktop systems into a network scanning system.
The deal appears to represent a successful exit for eCopy backers, which include Boston’s Ascent Venture Partners and Landmark Partners of Simsbury, Conn. Including a $15.8 million round in 2002 led by strategic investor Canon USA, eCopy took in at least $22.6 million in venture investment since its founding in 1997.
In February, Nuance announced plans to acquire Zi Corp. (Nasdaq: ZICA) for $35 million in cash and stock — the result of a seven-month long effort by Nuance to acquire Zi Corp., the Canadian maker of mobile advertising software, since its original offer of $40.4 million for the company.
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