Italian incumbent Telecom Italia has announced plans to sell voice tech firm Loquendo to US telco Nuance Communications for an enterprise value of E53m.
According to TI, the sale of its 99.98% stake in Loquendo, a 2001 spin-off of the incumbent’s R&D…
Italian incumbent Telecom Italia has announced plans to sell voice tech firm Loquendo to US telco Nuance Communications for an enterprise value of E53m.
According to TI, the sale of its 99.98% stake in Loquendo, a 2001 spin-off of the incumbent’s R&D assets, is part of a rationalisation process that will help shift its focus towards core assets.
The company expects to close the deal around the end of September.
Turin-based Loquendo has a workforce of around 100, and works closely with universities in Italy.
TI and Nuance were unable to comment before the press deadline.
