Nuance (NUAN) Slumps as Intel (INTC) Makes Smart Purchase
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Nuance Communications (Nasdaq: NUAN) is lower today amid reports that Intel (Nasdaq: INTC) has made a minor, but key, acquisition.
According to TechCrunch, Intel has purchased Spanish upstart Indisys, which is a company focused on natural language recognition. Sources said the deal was above €20 million ($26 million), which is small potatoes to both Intel and Nuance. The deal was signed May 31st and completed today, a spokesperson said.
The spokesperson for Indisys said,
But, if Intel decides to push development of Indisys further, it might have something in the ways of a Siri on its hands. That could prove more formidable competition for Nuance, but probably not for a few years.
Shares of Nuance are down 0.9 percent, while Intel is up 3.6 percent.
According to TechCrunch, Intel has purchased Spanish upstart Indisys, which is a company focused on natural language recognition. Sources said the deal was above €20 million ($26 million), which is small potatoes to both Intel and Nuance. The deal was signed May 31st and completed today, a spokesperson said.
The spokesperson for Indisys said,
Indisys has a deep background in computational linguistics, artificial intelligence, cognitive science, and machine learning. We are not disclosing any details about how Intel might use the Indisys technologies at this time.
But, if Intel decides to push development of Indisys further, it might have something in the ways of a Siri on its hands. That could prove more formidable competition for Nuance, but probably not for a few years.
Shares of Nuance are down 0.9 percent, while Intel is up 3.6 percent.
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