Nuance Communications

Nuance is an American multinational computer software technology corporation, headquartered in Burlington, Massachusetts, on the outskirts of Boston, that provides speech recognition, and artificial intelligence.

Nuance Communications
NASDAQ: NUAN
Russell 1000 Component
IndustrySoftware
Founded1992 (1992)
as Visioneer
HeadquartersBurlington, Massachusetts, United States
Key people
Chairman and CEO Mark Benjamin
ProductsNLU OCR, speech synthesis, speech recognition, PDF, consulting, government contracts
Revenue $1.949 billion (2016)[1]
$0.139 billion (2016)[2]
-$0.013 billion (2016)[2]
Total assets $5.7 billion (2016)[1]
Total equity $1.9 billion (2016)[1]
Number of employees
6,500+ (2021)
Websitewww.nuance.com

Nuance merged with its competitor in the commercial large-scale speech application business, ScanSoft, in October 2005. ScanSoft was a Xerox spin-off that was bought in 1999 by Visioneer, a hardware and software scanner company, which adopted ScanSoft as the new merged company name. The original ScanSoft had its roots in Kurzweil Computer Products.

History

In September 2005, ScanSoft Inc. acquired and merged with Nuance Communications, and the resulting company adopted the Nuance name. For a decade prior to that, the two companies competed in the commercial large-scale speech application business.

ScanSoft origins

In 1974, Raymond Kurzweil founded Kurzweil Computer Products, Inc. to develop the first omni-font optical character-recognition system  a computer program capable of recognizing text written in any normal font.[3] In 1980, Kurzweil sold his company to Xerox.[3] The company became known as Xerox Imaging Systems (XIS), and later ScanSoft.

In March 1992, a new company called Visioneer, Inc. was founded to develop scanner hardware and software products, such as a sheetfed scanner called PaperMax[4] and the document management software PaperPort. Visioneer eventually sold its hardware division to Primax Electronics, Ltd. in January 1999. Two months later, in March, Visioneer acquired ScanSoft from Xerox to form a new public company with ScanSoft as the new company-wide name.

Prior to 2001, ScanSoft focused primarily on desktop imaging software such as TextBridge,[5] PaperPort and OmniPage. Beginning with the December 2001 acquisition of Lernout & Hauspie, the company moved into the speech recognition business and began to compete with Nuance.

Partnership with Siri and Apple Inc.

Siri is an application that combines speech recognition with advanced natural-language processing. The artificial intelligence, which required both advances in the underlying algorithms and leaps in processing power both on mobile devices and the servers that share the workload, allows software to understand words and their intentions.[6]

Acquisitions

Prior to the 2005 merger, ScanSoft acquired other companies to expand its business. Unlike ScanSoft, Nuance did not actively acquire companies prior to their merger other than the notable acquisition of Rhetorical Systems in November 2004 for $6.7m.[7] After the merger, the company continued to grow through acquisition.


ScanSoft merges with Nuance; changes company-wide name to Nuance Communications, Inc.

  • September 15, 2005 — ScanSoft acquired and merged with Nuance Communications, of Menlo Park, California — $221 million.
  • October 18, 2005 — the company changed the name to Nuance Communications, Inc.[8]

Nuance acquisitions after merger

  • March 31, 2006 — Dictaphone Corporation, of Stratford, Connecticut – $357 million[9]
  • December 29, 2006 — Mobile Voice Control, Inc. of Mason, Ohio
  • March 2007 — Focus Informatics, Inc. Woburn, Massachusetts
  • March 26, 2007 — Bluestar Resources Ltd.
  • April 24, 2007 — BeVocal, Inc. of Mountain View, California — $140 million.
  • August 24, 2007 — VoiceSignal Technologies, Inc. of Woburn, Massachusetts.[10][11]
  • August 24, 2007 — Tegic Communications, Inc. of Seattle, Washington — $265 million. Tegic developed and was the patent owner of T9 technology.
  • September 28, 2007 — Commissure, Inc. of New York City, New York — 217,975 shares of common stock.
  • November 2, 2007 — Vocada, Inc. of Dallas, Texas
  • November 26, 2007 — Viecore, Inc. of Mahwah, New Jersey[12]
  • November 26, 2007 — Viecore, FSD. of Eatontown, New Jersey [13] and sold it to EOIR in 2013 [14]
  • May 20, 2008 — eScription, Inc. of Needham, Massachusetts — $340 million plus 1,294,844 shares of common stock.[15]
  • July 31, 2008 — MultiVision Communications Inc. of Markham, Ontario.
  • September 26, 2008 — Philips Speech Recognition SystemsGMBH (PSRS), a business unit of Royal Philips Electronics of Vienna, Austria for about €66 million, or US$96.1 million.[16] The acquisition of Philips Speech Recognition Systems sparked an antitrust investigation by the US Department of Justice.[17] This investigation was focused upon medical transcription services. This investigation was closed in December, 2009.
  • October 1, 2008 — SNAPin Software, Inc. of Bellevue, Washington — $180 million in shares of common stock.[18]
  • January 15, 2009 — Nuance Acquires IBM's patents Speech Technology rights.[19]
  • April 10, 2009 — Zi Corporation of Calgary, Alberta, Canada for approximately $35 million in cash and common stock.[20]
  • May 2009 — the speech technology department of Harman International Industries.
  • July 14, 2009 — Jott Networks Inc. of Seattle, Washington.[21]
  • September 18, 2009 — nCore Ltd. of Oulu, Finland.[22]
  • October 5, 2009 — Ecopy of Nashua, New Hampshire. Under the terms of the agreement, net consideration was approximately $54 million in Nuance common stock.[23]
  • December 30, 2009 — Spinvox of Marlow, UK for $102.5m comprising $66m in cash and $36.5m in stock.[24]
  • February 16, 2010, Nuance announced they acquired MacSpeech for an undisclosed amount[25]
  • February 2010, Nuance acquired Language and Computing, Inc., a provider of natural language processing and natural language understanding technology solutions, from Gimv NV, a Belgium-based private equity firm.
  • July 2010, Nuance acquired iTa P/L, an Australian IVR and speech services company.[26]
  • November 2010, Nuance acquired PerSay, a voice biometrics-based authentication company for $12.6 million.[27][28]
  • February 2011, Nuance acquired Noterize, an Australian company producing software for the Apple iPad.[29]
  • June 2011, Nuance acquired Equitrac, the world leader in print management and cost recovery software.[30]
  • June 2011, Nuance acquired SVOX, a speech technology company specializing in the automotive, mobile, and consumer electronics markets.[31]
  • July 2011, Nuance acquired Webmedx, a provider of medical transcription and editing services. Financial terms of the deal were not disclosed.[32]
  • August 2011, Loquendo announced Nuance acquired it. Loquendo provided a range of speech technologies for telephony, mobile, automotive, embedded and desktop solutions including text-to-speech (TTS), automatic speech recognition (ASR) and voice biometrics solutions. Nuance paid 53 million euros.[33]
  • October, 2011, Nuance acquired Swype, a company that produces input software for touchscreen displays, for more than $100m.[34]
  • December 2011 — Nuance acquired Vlingo, after repeatedly suing Vlingo over patent infringement. The Cambridge-based Vlingo was trying to make voice enabling applications easier, by using their own speech-to-text J2ME/Brew application API.[35]
  • April 2012 — Nuance acquired Transcend Services. Transcend utilizes a combination of its proprietary Internet-based voice and data distribution technology, customer based technology, and home-based medical language specialists to convert physicians' voice recordings into electronic documents. It also provides outsourcing transcription and editing services on the customer's platform.[36]
  • June 2012 — Nuance acquired SafeCom, a provider of print management and cost recovery software noted for their integration with Hewlett-Packard printing devices.[37]
  • September 2012 — Nuance acquired Ditech Networks for $22.5 million.[38]
  • September 2012 — Nuance acquired Quantim, QuadraMed's HIM Business — a provider of information technology solutions for the healthcare industry[39]
  • October 2012 — Nuance acquired J.A. Thomas and Associates (JATA) — a provider of physician-oriented, clinical documentation improvement (CDI) programs for the healthcare industry[40]
  • November 2012 — Nuance acquired Accentus.[41]
  • December 2012 — Nuance acquired Copitrak.[42]
  • January 2013 — Nuance acquired VirtuOz.
  • April 2013 - Copitrak acquired by Nuance.[43]
  • May 2013 — Nuance acquired Tweddle Connect business for $80 million from Tweddle Group[44]
  • July 2013 — Nuance acquired Cognition Technologies Inc.
  • October, 2013 — Nuance acquired Varolii (formally Par3 Communications)[45]
  • July, 2014 - Nuance acquired Accelarad (FKA Neurostar Solutions), makers of SeeMyRadiology, a cloud-based medical images and reports exchange network. Accelarad was based in Atlanta Georgia with a Sales Operations office in Birmingham Alabama.
  • June, 2016 — Nuance acquired TouchCommerce, a leader in digital customer service and intelligent engagement solutions with a specialization in live chat.[46]
  • August, 2016 — Nuance acquired Montage Healthcare Solutions.
  • February, 2017 — Nuance acquired mCarbon for $36M, a mobile value added services provider.[47]
  • January 2018 - Nuance acquired iScribes, a medical documentation solutions provider.[48]
  • May, 2018 - Nuance acquired voicebox for $82M, an early leader in speech recognition and natural language technologies.[49]

Acquisition of Nuance Document Imaging by Kofax Inc.

On February 1, 2019, Kofax Inc. announced the closing of its acquisition of Nuance Communications' Document Imaging Division.[50] By means of this acquisition, Kofax gained Nuance's Power PDF, PaperPort document management, and OmniPage optical character recognition software applications. Kofax also acquired Copitrak in the closing.

References

  1. "Financial Statements for Nuance Com - Morningstar". Morningstar.com. December 31, 2016. Retrieved March 8, 2017.
  2. "Financials for Nuance Com". Google Finance. December 31, 2016. Retrieved March 8, 2017.
  3. "Kurzweil Computer Products, Inc." Archived November 21, 2008, at the Wayback Machine Smithsonian Speech Synthesis History Project (SSSHP) 1986–2002
  4. Flynn, Mary Kathleen; Wiener, Leonard (November 20, 1994). "Neat Gadgets to Drool Over". U.S. News & World Report. Archived from the original on October 13, 2012.
  5. TextBridge Pro 11
  6. Wildstrom, Steve. "Nuance Exec on iPhone 4s, Siri, and the Future of Speech". TechPinions. Retrieved October 10, 2011. [Vladimir Sejnoha] declined to discuss Nuance's role in the iPhone 4S
  7. "Nuance Communications acquires Rhetorical Systems". Crunchbase.
  8. "NUAN-2012.9.30-10K". sec.gov. Retrieved May 20, 2015.
  9. Armstrong, David (February 8, 2006). "Nuance to Buy Dictaphone as It Expands Voice-Recognition Business". Wall Street Journal. ISSN 0099-9660. Retrieved April 8, 2020.
  10. "One Speech Recognition Company Eats Another: Nuance Acquires VoiceSignal". TechCrunch. Retrieved April 8, 2020.
  11. Lawson, Stephen (May 15, 2007). "Nuance buys VoiceSignal, eyes mobile voice control". InfoWorld. Retrieved April 8, 2020.
  12. Nuance acquires Viecore
  13. Nuance acquires FSD
  14. FSD Acquired by EOIR
  15. Nuance to acquire SNAPin
  16. "Nuance". nuance.com. Archived from the original on October 22, 2008. Retrieved May 20, 2015.
  17. "SpeechTechMag.com: UPDATED: Nuance Comes Under Government Scrutiny". speechtechmag.com. Retrieved May 20, 2015.
  18. SNAPin Software, Inc. acquired by Nuance
  19. Bulkeley, William M. (January 16, 2009). "Nuance Buys IBM Assets, Raises Funds". The Wall Street Journal.
  20. Moore, Galen (February 27, 2009). "Nuance buys Zi Corp. for $35M". www.bizjournals.com. Retrieved February 3, 2020.
  21. Cook, John (July 14, 2009). "Nuance buys Jott Networks". www.bizjournals.com. Retrieved February 3, 2020.
  22. http://www.businessoulu.com/index.php?id=503&news_id=519%5B%5D
  23. "Nuance". nuance.com. Retrieved May 20, 2015.
  24. "Nuance Acquires SpinVox, Accelerates Expansion of Voice-to-Text Business". Reuters. December 30, 2009.
  25. Whitney, Lance. "Nuance acquires Mac voice software company". CNET. Retrieved February 3, 2020.
  26. ARN Staff (May 21, 2015). "Nuance buys automated customer service provider, iTa". ARN. Retrieved May 20, 2015.
  27. "Voice biometrics co Persay sold for $6.7m". Globes. November 30, 2010. Retrieved August 9, 2011.
  28. Read, Brendan B. (January 6, 2011). "IVR: Nuance Acquires PerSay to Bring Voice Biometrics to Market". TMC.net. Retrieved August 9, 2011.
  29. Devindra Hardawar (June 20, 2011). "Nuance nabs Noterize, the first step to voice-powered iOS notetaking?". Retrieved March 26, 2016.
  30. "Nuance Closes Acquisition of Equitrac". nuance.com. Retrieved May 20, 2015.
  31. "Nuance Acquires Speech Recognition Software Company SVOX". TechCrunch. Retrieved February 3, 2020.
  32. "SpeechTechMag.com: Nuance Acquires Webmedx". speechtechmag.com. Retrieved May 20, 2015.
  33. "Nuance to Acquire Loquendo". nuance.com. Archived from the original on May 21, 2015. Retrieved May 20, 2015.
  34. "Nuance To Acquire Swype For $100+ Million". Uncrunched. Archived from the original on April 28, 2013. Retrieved May 20, 2015.
  35. Wauters, Robin. "After Years Of Patent Litigation, Nuance Acquires Vlingo". TechCrunch.
  36. Rao, Leena. "Nuance Buys Transcription And Speech Editing Company Transcend For $300M In Cash". TechCrunch.
  37. "SafeCom acquired by Nuance Communications". safecom.eu. Retrieved May 20, 2015.
  38. "Nuance to Acquire Ditech Networks". nuance.com. Retrieved May 20, 2015.
  39. "Nuance to Acquire Quantim, QuadraMed's HIM Business". nuance.com. Retrieved May 20, 2015.
  40. "Nuance Acquires J.A. Thomas in Strategy to Revolutionize Clinical Documentation for Transition to ICD-10". nuance.com. Retrieved May 20, 2015.
  41. "Today's Transactions:
    Nuance Communications Acquires Accentus"
    . Mergers & Acquisitions, Latest News. Retrieved May 20, 2015.
  42. "Nuance acquires Copitrak (US) : Printer-Benchmark (Solutions)". datamaster.fr. Retrieved May 20, 2015.
  43. Nuance acquires Copitrak
  44. "Nuance to Accelerate Its Successful Automotive Business with Acquisition of Tweddle Connect". nuance.com. Retrieved May 20, 2015.
  45. "Nuance to Acquire Varolii, Extend Leadership in Cloud-Based Customer Service Solutions". nuance.com. Retrieved May 20, 2015.
  46. "Nuance to Acquire TouchCommerce, Accelerate Growth of Enterprise Business". nuance.com. Retrieved April 9, 2020.
  47. Bhalla, Mohit; Gooptu, Biswarup (February 9, 2017). "Nuance Communications acquires Noida-based mCarbon Tech for $36 million". The Economic Times. Retrieved May 8, 2019.
  48. "Tamiami Angel Fund wins big for investors". Naples Daily News. Retrieved May 8, 2019.
  49. "Nuance buys Voicebox Technologies, scooping up speech-recognition and natural-language pioneer". Retrieved October 15, 2018.
  50. "Kofax Announces the Closing of its Acquisition of Nuance Document Imaging". Kofax Inc. February 1, 2019. Retrieved February 1, 2019.
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