Friday, June 22, 2007

Business & Technology | Seattle's Tegic sold in $265M cash deal | Seattle Times Newspaper

I never understood why AOL bought Tegic in the first place. 

Nuance Communications announced Thursday that it is purchasing Seattle-based Tegic Communications from Time Warner's AOL subsidiary for $265 million in cash.

Tegic develops the commonly used T9 software that predicts what people type into their mobile phone for easier text entry. Last year, the software was shipped on nearly two-thirds of all cellphones. Nuance, based in Burlington, Mass., builds voice-recognition software, including a version for mobile phones.

AOL purchased Tegic in 1999 for $350 million in stock.

Business & Technology | Seattle's Tegic sold in $265M cash deal | Seattle Times Newspaper

Post a Comment