Published: June 17, 2014 | United States
Nuance, a speech recognition software maker,has held discussions with potential suitors regarding a sale of the company, according to people familiar with the matter.
Nuance develops voice-powered technology used in mobile phones, televisions and GPS navigation devices. Last September, Nuance said its voice and language technologies, which are already used in Samsung’s handsets, televisions and tablets, would also be used in the South Korean company’s wearable devices. Its technology is used in Apple Siri.
The company had a market capitalization of about $5.5 billion before The Wall Street Journal reported the talks. Nuance shares rose sharply on the news.
In addition to Samsung and Apple, Nuance’s customers include Daimler, Nintendo and Panasonic. It recorded $1.86 billion in revenue in its last fiscal year. Its largest business is its health-care unit, which produces software designed to digitize patient records. The company’s second-biggest segment, mobile, focuses on phones, cars and other devices.
Source: Wall Street Journal