Nuance Purchases SpinVox for over $100 Million

SpinVox has had a wild ride this past year, going from the darling of the voice recognition industry to losing complete face after it turned out that their service required a level of human transcribers to ensure accuracy.

After the truth came out, investor pressure forced the company to sell for a considerable loss, with some investors losing as much as 90% of their total investment. A $100 million price tag sounds great, except for the fact that the company had raised approximately $200 million in capital over the past 6 years.

It is assumed that Nuance will utilize SpinVox’s client list to expand it’s own voice recognition service program.