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Nuance Communications goes up for sale - report
2014-06-17 08:51:00| Telecompaper Headlines
(Telecompaper) Speech-recognition software maker Nuance Communications has held discussions with potential suitors regarding a sale of the company, people familiar with the matter told the Wall Street Journal. The company recently discussed a possible sale of the company with Samsung Electronics and private-equity firms, according to the report. It wasn't clear where sale talks, some of which happened earlier this year, currently stand or if they will lead to a deal. Nuance develops voice-powered technology used in mobile phones, televisions and GPS navigation devices. The company had a market capitalization of about USD 5.5 billion before the Wall Street Journal reported the talks. Nuance shares rose sharply on the news. Carl Icahn owns about 19 percent of Nuance and has two representatives on the company's board. The company recorded USD 1.86 billion in revenue in its last fiscal year.
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Category:Telecommunications