Nuance acquires Zi for $35M

Burlington, MA-based Nuance Communications (NASDAQ:NUAN), after a series of unsuccessful offers begun last summer, has finally convinced the board of the Canadian firm Zi (NASDAQ:ZICAto accept Nuance’s $35 million buyout offer. Under the terms of the deal, shareholders of Zi, which competes with Nuance in the market for text messaging software, will get 34 cents in cash and 0.4 shares of Nuance stock for every share of Zi stock. Zi shareholders must still approve the deal, which is actually worth less than one Zi’s board rejected in August.

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