Nasdaq-listed voice and speech recognition company Nuance Communications has acquired Noida-based mobile value-added services venture mCarbon Tech Innovations for $36 Million in a cash-and-stock transaction.
These days, Indian Startup Ecosystem is expecting the buyouts to be increased in next 12 months. Even though the risk capitals are ready to redistribute their portfolio, the startups are looking for an exit.
However, there is no response from both the companies when asked about the exact stock values. There are more than 250 employees who work for mCarbon. The employees will now continue their operations under its current brand name post the acquisition.
mCarbon was founded in 2008 by Rajesh Razdhan. The startup is a leading mobile technology solutions innovator delivering context. They offer solutions that enable communication service providers to enhance usage and retention and create superior customer engagement. mCarbon was announced as ‘Innovator of Year’ by Airtel in 2015; Winner of the Red Herring’s Top 100 Asia Award in 2013 and listed top 5 under most promising telecom solution provider for India in 2014.
Nuance Communications went public from December 1995. The company provides speech, imaging, and keypad solutions for businesses, organizations, and consumers worldwide. Nuance communications works on requesting account information from a phone-based self-service solution, dictating records, searching the mobile Web by voice, entering a destination into a navigation system, or working with PDF documents.
The Burlington, Massachusetts-based company had provided necessary voice recognition technology for building Apple’s SIRI, with a flagship voice recognized users interface for iPhone and iPad.
Nuance Communications has acquired about 20 startups. One of their acquisitions includes Dragon System which provides advance speech recognition technology and they compete with gain software firms like Google, IBM and Microsoft. Read more news.
Love playing sports? Download this app "Win cash rewards while playing sports that you love".