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BURLINGTON, Mass. (AP) - Speech recognition-software maker Nuance Communications Inc. said Wednesday it will buy Dictaphone for $357 million, enabling Nuance to expand further into the $15 billion global market for health care transcription services.
Nuance and privately held Dictaphone said both companies' boards have approved a deal expected to close by March 31. The transaction is subject to regulatory approvals.
Shares of Burlington-based Nuance rose 92 cents, or 12 percent, to close at $8.92 Wednesday on the Nasdaq Stock Market.
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