Burlington, Mass.-based Nuance Communications, Inc. has acquired SpinVox, a provider of voice-to-text services based in the U.K., for approximately $102.5 million, including $66 million in cash and $36.5 million, or approximately 2.3 million shares, in Nuance common stock.
By integrating SpinVox’s carrier services with Nuance’s speech recognition platform, the company says it hopes to further accelerate the growth of its voice-to-text business and scale to meet the needs of its customer base.
Through this acquisition, Nuance intends to expand its operations and accelerate growth in the areas of service quality, global reach, and innovation, it says.
