Spinvox ripe for Nuance takeover?

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Nuance and Spinvox have played down rumours that the two companies are talking to each other about a potential acquisition.

Earlier this year, Spinvox was forced to defend itself against claims that it used mainly humans rather than its technology to translate speech to text and the clock is currently ticking for it to pay back a £30 million loan given to it by an investor earlier this year.

A spokesman for Spinvox would confirm that the loan had been extended until the end of January. However, he said the company could not comment further on the reports relating to rumours of a buy-out.

Many are suggesting this extra time is to allow acquisition - reckoned to be worth £92 million - talks to be held.

Nuance was equally tight lipped about the reports, with a spokesperson saying that they "do not make any comments on rumors or speculations.”

That said, an acquisition of some sort would not be totally out of the question given that Nuance announced it November this year that it is now worth a cool $1 billion.

Thanks to successful growth in the last three years, at the same time as announcing it was now a $1 billion company, Nuance also confirmed the appointment of a new executive to help lead its European business.

Peter MacKinnon has taken up the role of senior vice president and general manager for Europe, the Middle East and Africa (EMEA). He was previously chairman of joint venture LG-Nortel where he grew revenue from $500 million to more than $1 billion.

“Peter’s expertise in telecommunications and mobile markets will bring new leadership and direction for the European business as the company accelerates growth in that region. His rich experience and breadth of abilities will be instrumental in securing Nuance’s position as a billion dollar company," Steve Chambers, the company's executive vice president of worldwide sales and chief marketing officer, said in a statement back in November.

"Peter will play a pivotal role in extending the company’s success across EMEA and building our speech, imaging and healthcare business in existing and emerging markets. At the same time, his commitment to delivering value and service to our partners and customers, remains true to the Nuance tradition, and underpins the company’s success to date.”

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