|not terribly surprising |
By Gillian Tan, Dana Cililluca and Ryan Knutson
Speech-recognition software maker Nuance Communications Inc. has held discussions with potential suitors regarding a sale of the company, according to people familiar with the matter.
The Burlington, Mass., company has recently spoken about a possible sale of the company with Samsung Electronics Co. and private-equity firms, some of the people said. It isn’t clear where sale talks, some of which happened earlier this year, currently stand or if they will lead to a deal.
Nuance /quotes/zigman/98548/delayed/quotes/nls/nuan NUAN+9.53% develops voice-powered technology used in mobile phones, televisions and GPS navigation devices. Last September, Nuance said its voice and language technologies, which are already used in Samsung’s handsets, televisions and tablets, would also be used in the South Korean company’s wearable devices. Its technology is used in Apple Inc.’s Siri.
The company has a market capitalization of about $5.5 billion and counts activist investor Carl Icahn as its biggest shareholder. Icahn’s firm owned about 19% of Nuance as at March 31, according to filings, and has two representatives on the company’s board.