Nuance buys Spinvox for £64m
Spinvox the UK firm which converts voicmail messages into text messages has been bought by speech recognition company Nuance for £64m.
The deal is about 30% down on the rumoured price tag. Nuance have said it is too early to say what will happen to the 230 staff presently employed by Spinvox and they also wouldn’t say if Christina Domecq and Daniel Doulton would stay on the board.
At the start of 2009 Spinvox was one of this countries most promising technology companies but 12 months on and it has been sold at a knock down price which means investors are not going to see much return.
An industry expert said ‘Nuance is likely to have been more interested in Spinvox’s contracts with major firms like Telefonica rather than its technology’.