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Wednesday, February 10, 2010

Nuance takeover of SpinVox reveals "a sea of red ink"

Financial information about the takeover of voicemail-to-text company SpinVox has been provided to the US Securities and Exchange Commission by new owner Nuance.

The 70-page document has been summarised by paidcontent.co.uk, which reported on financial issues at SpinVox in July last year. Its summary talks of "a sea of red ink" and notes that tax and expenses payments weren't handled properly.

SpinVox made a loss of over £56 million for the nine-month period ending 30th September 2009.

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