Investor says SpinVox up for sale

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SpinVox is up for sale, according to one of its investors.

The UK voice-to-text message company has had a rough summer, after reports suggested the voice to text translations were more often done by people in call centres than a high-tech analysis system, a claim SpinVox has denied.

That was followed by suggestions the firm was in financial trouble, a rumour given more weight by one of its investors.

In an annual filing, fund manager Invesco Perpetual called its investment in SpinVox "disappointing." It has written down the value of its investment from £759,000 to just £76,000.

"The business has been put up for sale, and it is possible that, should a good sales price be achieved, the new valuation may be exceeded," it added.

SpinVox declined to comment on the report, but a spokesperson told the BBC that it had asked Invesco to "withdraw" the statement in the filing.

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