Burlington, Mass.-based Nuance Communications said today that it agreed to acquire VoiceSignal Technologies, also of Massachusetts.
Nuance said the acquisition will help “satisfy the accelerating demand for speech-enabled mobile devices and services.”
Nuance expects to serve more than one billion consumers within the next three years with voice-based mobile applications that help people retrieve and navigate vast amounts of data on mobile phones, in automobiles and on personal navigation devices.
Last month, I wrote a story about the growing speech-recognition arena that was getting closer attention following Microsoft’s acquisition of TellMe. Another local company, Bellevue-based VoiceBox Technologies, is also working on the technology.
Nuance said it will pay about $293 million for VoiceSignal (minus VoiceSignal’s cash and based on Nuance’s closing price of $15.28 a share yesterday). It was reported that Microsoft paid $800 million for TellMe.