An "intangible asset" is an asset that has a significant value but no physical presence and provides a company with long-term financial value. Intangible assets that can be individually marketed by the business can be separated from other assets and can be identified are known to as identifiable intangible assets. Intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, like airport landing rights or broadcasting licenses, are examples of identifiable intangible assets. A trademark is a sign that can be used to distinguish one company's goods or services from those of other businesses. For trademarks, intellectual property rights offer protection. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Nuance Communications’ gross value of intangible assets surged from $209.0 million in FY2020 to $228.9 million in FY2021, an increase of 9.5%. In FY2021, the company's net value of intangible assets was $128.3 million. Trademarks and technology amounted to $5.1 million and $223.8 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $59.3 million in FY2021.
In FY2021, the company completed an acquisition in the healthcare segment for total cash consideration of $45.2 million. As a result, it recognized goodwill of $27.2 million and intangible assets of $19.8 million related to technology. The company's amortization expense for intangible assets was $65.3 million and $65.2 million in FY2020 and 2019 respectively.
Nuance Communications Inc (Nuance) is a technology company that offers conversational artificial intelligence (AI) and ambient clinical intelligence solutions. The company offers a range of products and services, such as clinical documentation, solutions for radiologists, clinicians, and care teams, and intelligent customer engagement and security biometric solutions for brands. Nuance provides its solutions to various industries, including healthcare, financial services, telecommunications, travel and hospitality, government, utilities, and retail. It sells and markets technologies and solutions through direct sales teams, independent software vendors, distributors, telecommunications carriers, e-commerce websites, and others.
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
Japan
Japan
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