Carl Icahn Takes Stake in Nuance, Stock Soars

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

Carl Icahn Takes Stake in Nuance, Stock Soars

Icahn 106352500 200x300 Carl Icahn Takes Stake in Nuance, Stock Soars[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].

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2010/11/Icahn_106352500.gif
  2. NUAN: http://studio-5.financialcontent.com/investplace/quote?Symbol=NUAN
  3. acquired a stake in the company: http://www.forbes.com/sites/afontevecchia/2013/04/01/icahn-unveils-9-3-stake-in-nuance-voice-recognition-firm-reportedly-behind-apples-siri/
  4. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  5. interact with ads sent to their mobile devices: http://investorplace.com/2013/04/meet-the-mobile-ads-that-talk-back/

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