Nuance Buying Philips Speech Recognition | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Nuance Buying Philips Speech Recognition

October 1, 2008
by root
| Reprints

Burlington, Mass.-based

Nuance Communications, Inc

is acquiring Philips Speech Recognition Systems (PSRS), a business unit of

Royal Philips Electronics

(Amsterdam), for approximately $95 million (EUR 65 million,) to be paid in cash.

Through the transaction, Phillips expects to book a net gain of approximately EUR 40 million, which will be accounted for in the financial results of Philips’ Healthcare sector in the company’s third quarter 2008 results, it says. All of PSRS’s approximately 170 employees will transfer to Nuance as part of the transaction.

Based in Vienna, Austria, PSRS specializes in speech recognition technology for the document creation market, with a primary focus on the professional medical and legal sectors.

The Health IT Summits gather 250+ healthcare leaders in cities across the U.S. to present important new insights, collaborate on ideas, and to have a little fun - Find a Summit Near You!


/news-item/nuance-buying-philips-speech-recognition

See more on

betebettipobetngsbahis