Gimv portfolio company L&C has been acquired by Nuance
Gimv sells its stake in Language & Computing (L&C) (United States) to Nasdaq-listed Nuance Communications (www.nuance.com). Nuance is the leading provider of speech and imaging solutions for businesses and consumers around the world.
L&C (www.landcglobal.com), established in 1998, is a world leader in Natural Language Processing (NLP) technology for the healthcare industry. L&C’s advanced NLP technology enables a computer to understand the content of written medical language (free text) and to reorganize and structure information from databases of medical reports. With the technology the company has addressed some of the most confounding data management challenges in the healthcare sector, including clinical data warehousing, coding for billing, decision support, data mining and disease management. The company’s customers currently include major healthcare providers, IT vendors and government organizations. In 2007 the company relocated its headquarters from Belgium to the United States.
The sale has a positive impact of EUR 1.1 million (EUR 0.05 per share) on Gimv’s equity value at 31 December 2009. All parties involved have decided not to disclose any financial details on this transaction.
Gimv has been advised by Avondale Partners and Womble Carlyle Sandridge & Rice.