Nuance Grows Even Stronger As It Rides The Sound Wave
Dave Mock of the Motley Fool suggests that Nuance Bucks the Trend.
Nuance Communications (Nasdaq: NUAN) doesn’t top any lists as a recession-resistant stock, but the company is at least showing some solid strength in a tough economic climate.
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The company says its flagship Dragon Naturally Speaking software has gotten an enthusiastic welcome since its release. And the mobile sector continues to be strong, as device makers such as Nokia (NYSE: NOK), Motorola (NYSE: MOT), and Research In Motion (Nasdaq: RIMM) make speech-based interaction a standard feature in new devices.
What had got everyone’s interest was the news that Nuance Buys Philips’ Speech Recognition Unit For $96 Million.
The Philips unit, officially called Philips Speech Recognition Systems (PSRS), is based in Vienna, Austria, and provides a wide variety of speech-recognition solutions in 25 languages to meet medical documentation requirements for hospitals, physician practices, and other health care organizations.
Nuance noted that speech recognition is becoming ubiquitous in European health care markets. Adding that it plans to integrate PSRS’s solutions with many of its existing speech-recognition products, including its Dragon Medical SDK, Nuance said that it plans to fully support all PSRS customers and partners in the future.
Such good results may well be a confirmation of the strength of speech technology, given the growth in the mobile web. Undoubtedly the activities of Google with Android can only help to stir up interest.
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