Speech-recognition software company Nuance Communications is exploring the possibilities to sale the company to potential suitors. There are rumors that the company is in last stage of discussion to sale the company to Samsung and private-equity firms. There is no confirmation whether there is already a deal or not.
Nuance Communications creates speech-recognition solution which is used in mobile phones, televisions and GPS. Samsung is using this in their Galaxy smartphones, smart TVs and in tablets. Apart from Samsung, Apple also uses Nuance software to power Siri, the intelligent personal assistant and knowledge navigator.
Nuance, which has a market value of almost $6 billion, has been under pressure from activist shareholder Icahn, who took a stake in the company in April 2013 and has built up his shares. As of March 31, funds controlled by Icahn had a combined 19 percent stake in Nuance.
