Nuance’s market cap jumped from a valuation of $5.5 billion to almost $6 billion yesterday.
Samsung is growing tremendously and it would do anything to beat its competitors. It pretty much owns half of the smartphone and electronics market but it is not just stopping at that. News has it that Samsung is about to purchase Nuance which is the company behind Samsung’s and Apple’s in-house voice assistant programs S Voice and Siri. Nuance is also known for other commercial speech recognition applications like Dragon Naturally Speaking and it is now going to be bought by the Korean tech giant.
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Though this deal hasn’t been finalized as yet, the anticipation of being bought by Samsung is alone more than enough to drive Nuance’s market cap from $5.5 billion to almost $6 billion yesterday. The interesting bit here is that Nuance’s speech recognition engine powers offerings from both Samsung and Apple and this could be used potentially as leverage against the other if one of the two were to control it.
This doesn’t sound so pretty for Apple and we haven’t received any information on what Apple is thinking of this move. There are chances that the company might be bidding on Nuance too but there is nothing to confirm that.