Nuance Communications has acquired SpinVox, a provider of voice-to-text services to telecommunications companies across five continents.
Nuance said that by integrating SpinVox’s carrier services with its speech recognition platform will further accelerate the growth of its voice-to-text business and scale to meet the needs of global customer base.
The company said that the acquisition creates a voice-to-text platform comprising full and partial speech automation, web services integration. Under the terms of the agreement, consideration for the transaction is approximately $102.5m, comprising $66m in cash and $36.5m, or approximately 2.3m shares, in Nuance common stock.
The combination is expected to achieve broad language support, including english, spanish, german, Italian, french, and portuguese.
John Pollard, vice president of voice-to-text services at Nuance, said: “Around the world, the voice-to-text market has experienced tremendous growth over the last year, with a variety of innovative services being delivered by carriers and unified communications providers. With SpinVox’s robust infrastructure, language support and operational experience, we will broaden the reach and capabilities of our platform.”
