Carl Icahn Takes Stake in Nuance, Stock Soars

by Christopher Freeburn | April 2, 2013 11:09 am

Icahn_106352500[1]Shares of Nuance Communications (NASDAQ:NUAN[2]) surged more than 5% in Tuesday morning trading after regulatory filings revealed that Carl Icahn had acquired a stake in the company[3].

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[4]) 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[5].

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