The activist investor has acquired 29.3 million shares of the voice-recognition technology firm, a 9.3% stake. Icahn’s passive stake in Nuance is valued at $591 million, Forbes notes.
Icahn isn’t the only investor interested in Nuance, which is purported to provide the technology that runs Apple’s (NASDAQ:AAPL) Siri voice assistant. Warburg Pincus, a private equity firm, recently said it had taken a 14.6% stake in the firm.
Nuance has launched a new mobile advertising platform called Voice Ads, which allow consumers to use speech to interact with ads sent to their mobile devices.