Oppenheimer: Nuance Announces Acquisition

According to a research report published today by Oppenheimer, Nuance Communications Inc.

just announced its acquisition of Transcend Services Inc.

. Oppenheimer commented in the report, “Transcend provides premium quality transcription and clinical documentation services to the heath-care industry. We like this acquisition for the following reasons: 1) it enhances NUAN's medical transcription capabilities within the small- to mid-size hospital space; 2) consolidates NUAN's market position; and 3) NUAN continues to maintain a technological edge over its competitors. We reiterate our Outperform rating and price target of $33.” Nuance Communications is currently trading at $26.30. Transcend Services is currently trading at $29.25.