Philips to sell speech processing technology

Little known ScanSoft Inc., an imaging and speech software developer from Peabody, Mass., will shell out EUR 36 million ($56 million) for Philip’s speech processing technology and Voice Control business units. Philip’s speech processing dictation business will not be part of this deal.

The closing

is expected to take place during the first quarter of 2003.

Tom Verbeek, the head of Philips corporate investments said that the company still is a believer in the future of speech recognition and by merging Philips’ speech telephony with ScanSoft, the technology will continue to be a leader in the market place.

As for ScanSoft, this deal enhances the company’s portfolio, which includes OmniPage, OmniPage Pro, and RealSpeak. According to Paul Ricci, ScanSoft chairman and CEO, the company will also retain several Philips employees and he believes the deal will expand its market opportunities with existing business partners and global channels.

The Philips speech line includes: directory assistance applications for networked speech recognition, based on the recognition engine SpeechPearl and the telephony platform SpeechMania. The business unit Voice Control provides software technology for embedded speech recognition enabling a speech interface for devices. Voice Control licenses the SpeechWave and Vocon engines.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Story

How the CTO can Maintain Cloud Momentum Across the Enterprise

Embracing cloud is easy for some individuals. But embedding widespread cloud adoption at the enterprise level is...

Related Tech News

Get ITBusiness Delivered

Our experienced team of journalists brings you engaging content targeted to IT professionals and line-of-business executives delivered directly to your inbox.

Featured Tech Jobs