Nasdaq listed voice and speech
recognition company Nuance Communications has acquired Noida based mobile value
add services venture mCarbon Tech Innovations in a cash and stock transaction,
estimated at about $36 Million.
The deal is the latest example of
consolidation taking place in the Indian startup ecosystem, which is expected
to see an increasing number of buyouts over the next 12 months, even as risk
capital investors continue to realign their portfolios, and search for exits. Founded
in 2008, mCarbon Tech Innovations, which started off focusing on core network
value add services, provides innovative revenue uplift and customer value
management products for telecom operators.
The company also operates in
Bangladesh, Middle East and African regions, and counts Private Equity Group,
an investment arm of JP Morgan among its investors. One of the early backers of
the eight year old company was venture capital firm Canaan Partners. The company,
which had earlier acquired advanced search recognition technology venture
Dragon System, competes with the likes of Google, IBM and Microsoft, which have
also sunk billions of dollars in R&D, as they look to establish their
dominance in the space.
No comments:
Post a Comment