RSS
Market and Sector Type: 
Telecoms

Spinvox sold for $100 million

Article Date:  Jan 04 2010
Spinvox founder Christina Domecq
Spinvox founder Christina Domecq

Voice-to-text conversion business Spinvox has been sold for $102.5 million (£63 million), less than the total amount of venture capital invested in the company.

NASDAQ-quoted speech recognition company Nuance acquired the UK-based company which launched in 2003 and aspired to become the 'worldwide leader in voice messaging' according to founder Christina Domecq.

Spinvox had raised £100 million from investors including investment bank Goldman Sachs and asset management giant Gartmore, but attracted unwanted media attention after a BBC blog drew attention to the limitations of its technology.

John Pollard, Nuance's vice president for voice-to-text says Spinvox's 'robust infrastructure, language support and operation experience' will broaden the capabilities of its platform.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Hiscox Business Insurance 

Life’s full of uncertainties, but you never want to be in any doubt about your business insurance. Hiscox offers broad and inclusive business insurance available online. You can tailor a policy to suit your business needs from a broad range of covers. Find out more.

Secure early payment for your unpaid invoices with Simply Business

Simply Business works with a carefully selected panel of the UK's leading factoring and invoice discounting providers. Find out your cash flow options in minutes, you could have 90% of your invoices paid in 24 hours. To find out more click here

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Mergers & Acquisitions

Bowmark backs Leaders buy-out

Lettings and property agency Leaders has been acquired in a £48 million management buy-out backed by Bowmark Capital.

Green light for Friends Reunited deal

Online information business Brightsolid has been given the official go-ahead for the acquisition of Friends Reunited Group for £25 million.

Hotbed backs Wheatley MBO

Wheatley Associates, a specialist software company, has undergone a management buy-out backed by private investor syndicate Hotbed.

More Telecoms: Mergers & Acquisitions

Carlyle Group exits SmartTrust

SmartTrust, a developer of software for mobile operators backed by The Carlyle Group, has been acquired by Giesecke & Devrient.

Enterprise Ventures exits H2O Networks

North of England-focused fund manager Enterprise Ventures (EV) has exited broadband company H2O Networks generating an IRR of 142%.

mBalance sold to Tekelec

An Amsterdam-based text messaging infrastructure company has been acquired by one of its clients for up to €42 million (£40 million).

Vodafone extends Australian coverage

A UK mobile phone giant has expanded its operations in Australia after buying part of a local retailer. Vodafone now holds a stake in Crazy John’s, following a distribution agreement that the two companies formed last year.

Smiths heads Down Under

A London-based technology group has expanded its expertise in the wireless communications market after buying an Australian electronics firm. Smiths Group, which employs more than 20,000 people in 50 countries, has bought Brisbane-based components manufacturer Triasx.

Advertisement

Related articles

Loudspeaker company turns up the volume

University spin-out Warwick Audio Technologies has raised £1.5 million from investors to develop its loudspeaker technology.

Synseal Extrusions in MBO

Private equity house HIG Europe has acquired Synseal Extrusions, a supplier of doors, windows and conservatories.

Alchemy Partners sells COA Solutions

Private equity investor Alchemy Partners has sold software supplier COA Solutions to Advanced Computer Software for £100 million.

Growth creators

The entrepreneurs who make things happen. The investors who refuse to stand still. Meet the Business XL Power Top 50, the most influential risk takers and deal makers on the UK's growth company scene.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • Confidence tricks

    British entrepreneurs often admire the American spirit of dauntless optimism, so effectively tapped into by President Obama’s campaign slogan ‘Yes, we can’.

  • Lyceum Capital acquires McKinnon & Clarke

    Mid-market investor Lyceum Capital has bought a majority stake in energy procurement consultancy McKinnon & Clarke for £22 million.

  • Management acquires Dynamic-Materials

    The CEO of East Midlands manufacturer Dynamic-Materials Group has led a secondary management buy-out (MBO) of the company.

  • The worst VC in the world

    The reputation of private sector venture capital may be at a low ebb, but there is one consolation for the industry.

  • Spinvox hits back at critics

    Ariadne Capital’s CEO Julie Meyer, an investor in voice-to-text specialist Spinvox, has defended the company against criticism on a BBC blog.

Latest VC Deals

Latest Deal Zone deals
Company Type Date
Jeyes VC Feb 2010
PrismTech VC Feb 2010
iVision UK VC Feb 2010
Synseal Extrusions VC Feb 2010
Mi-Pay VC Feb 2010
AQS VC Feb 2010
HCT Group VC Feb 2010
FDM Group VC Feb 2010

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More