by Christopher Freeburn | April 2, 2013 11:09 am
Shares of Nuance Communications (NASDAQ:NUAN) surged more than 5% in Tuesday morning trading after regulatory filings revealed that Carl Icahn had acquired a stake in the company.
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.
Source URL: http://investorplace.com/2013/04/carl-icahn-takes-stake-in-nuance-stock-soars/
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