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Euro Ventures - Thursday, December 31, 2009

Nuance Picks Up SpinVox for $102.5M

Nuance Communications, a speech and imaging service, acquired SpinVox in a hefty deal worth $102.5M ($66M cash and $36.5M common stock).

SpinVox, is a robust service that allows you to utilize speech recognition technology to convert voice messaging into text that can be seen through SMS or email. The service can translate multiple languages into a text format. This strategic acquisition will allow Nuance to integrate its speech solutions with SpinVox's leading technology and carrier-grade infrastructure.

Based in London, SpinVox provides services to telecommunication companies across five continents (nearly 100 million users worldwide). This offer saves the debt-laiden company, while providing an ideal opportunity for Nuance to expand its product innovation and global reach through SpinVox's development team.

It's an "oh-so-common" scenario where a US company can purchase a solid European tech company to further its international presence. With this key competency gain, expect to see the Burlington (MA) software firm improve its service quality and advance speech automation for web and mobile markets.

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[Update: paidContent, covered this story as well. Read, for more detail.]

By Hanif O'Neil