Nuance buys Zi in $35m deal

Voice recognition company Nuance Communications Inc has finally won over the management of Zi Corp who have agreed to a cash and stock deal worth around $35 million.
Nuance has been trying to buy its Calgary, Canada-based rival for more than six months, and back in July the company had offered $47.5 million for the developer of text input technologies for mobiles.
The declining market means the final value still represents a 73% premium on the closing price of Zi's stock on Wednesday.
In a statement, Nuance said that Zi’s mobile search and text input systems complement its own portfolio and would help it better address the market need for text input technology, especially in Asia-Pacific.