Nuance Puts Warburg Money to Work

Nuance Communications has completed its $35.7 million acquisition of Zi Corporation, a provider of usability solutions for mobile search and text input. Warburg Pincus made a $175 million investment in Nuance in late January through a PIPE deal that upped the private equity firm's stake in the company to 26% and provided capital for this deal. Warburg's involvement in Nuance goes back to its 2004 investment in ScanSoft, which was merged with Nuance in 2005.