Nuance plans to spin off automotive business into independent public company
Spin-off and public listing is expected to complete before the end of fiscal year 2019
Nuance Communications plans to spin off its Automotive business segment into a new, independent, publicly traded company called “Nuance Auto”, the company said in a press release last month. The company expects the transaction to be tax-free to its shareholders, who will own shares of both Nuance Communications and Nuance Auto. The spin-off, subjected to regulatory conditions, including final approval from the Nuance’s board of directors, is expected to be completed before the end of financial year 2019.
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