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Technology Stocks : Nuance Communications, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (575)	12/20/2007 6:51:02 AM
From: SGJ	Read Replies (1) \| Respond to of 834

A company that cares about stockholders? Here's Forbes take on it: Nuance Gets It Carl Gutierrez, 12.19.07, 4:50 PM ET Nuance Communications Nuance Communication responded to an unnuanced communication from investors by giving them what they wanted on Wednesday. Shares of Nuance Communications (nasdaq: NUAN - news - people ) rose 6.6%, or $1.16, to $18.75, after the company scaled back a secondary stock offering. It had been planning to sell 15 million shares, but it cut the amount to 7.3 million on Wednesday after investors drove down the company's share price from $21.11 on Dec. 11, the day before the offering was announced. The key change is that private-equity firm Warburg Pincus, which owns 13.2% of Nuance, will not be selling any of its shares in the offer. Previously, it had planned to trim its stake by 15%, or 4.8 million shares. Nuance managers reduced the shares they are planning to sell to 277,000 from 600,000, and the company itself will offer 6.8 million shares instead of the 9.6 million originally planned. Total proceeds of the offering will be about $112.8 million after underwriting and other expenses. Yun Kim, an analyst Pacific Growth Equities, noted that the reduced amount of shares being offered by insiders could be taken as a sign that they thought $17.50 was too low a price. Recent fluctuations in the company’s share price aside, Kim said he felt Nuance was the best way for investors to play an emerging opportunity in voice search, which he believes is likely to become its biggest business segment in a few years but whose prospects have little if any reflection in the current share price. forbes.com