Wednesday, December 30, 2009
SpinVox bought by Nuance
Nuance Communications, the company behind Dragon NaturallySpeaking PC speech recognition software and the Dictaphone Enterprise Speech System, has acquired voice-to-text company SpinVox. SpinVox says there'll be no change or interruption in service for its customers. The deal is costing Nuance $66 million in cash and $36.5 million in shares; a total value of around £64 million, although SpinVox has a £30 million loan that's due for repayment next month. [Nuance press release; SpinVox blog]