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Nuance Communications Buys Spinvox for $102.5 Million to Expand Voice-to-Text Services
31 Dec 2009
Voice recognition software company Nuance Communications has acquired voice-to-text services company Spinvox for $102.5 million.
Spinvox, which is based in Marlow U.K., provides technology that converts voice messages to text, which can then be sent as e-mail messages or posted on blogs or social networking sites. Nuance will implement Spinvox's technology into its speech recognition platform.
Nuance is best known for the popular Dragon NaturallySpeaking software, which allows users to create documents or e-mail messages through dictation. The company also provides technology to convert voice messages to text, which can then be sent to users as SMS or e-mail messages. Nuance's voice-to-text customers include AT&T.
The acquisition of Spinvox will help Nuance voice-to-text services reach a larger customer base worldwide and support more languages. The combined company will support voice-to-text services in languages including English, Spanish, German, Italian, French, and Portuguese. The deal won't affect current Spinvox customers.
The $102.5 million deal will comprise of $66 million in cash and $36.5 million in Nuance common stock.
Tags
nuance, spinvox, voice to text service
Visit http://www.nuance.com/
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