Nuance Communications – A Leading American Company Developing Speech Recognition Software.
Nuance is an American-based multinational software company that is well-known for speech recognition and artificial intelligence software. The company’s headquarters is based in Burlington, Massachusetts. Nuance Communications was originally founded in 1992 which was then incorporated as Visioneer. After a few years, Visioneer merged with ScanSoft, one of its prime market competitors which were followed by a couple of more mergers resulting in the establishment of Nuance. Currently, Nuance Communications has more than 6,500 employees developing quality solutions for its clients. The solutions provided by Nuance are incorporated across many industries including healthcare, financial services, telecom, retail, government, and many more.
History of Nuance Communications
The company, Nuance Communications has its roots back in 1992 when Visioneer was founded by Pierre-Alain-Cotte. When the company was founded it was a privately owned company that developed a sheetfed scanner called PaperMax. Visioneer started selling its different business divisions to other companies which included hardware business to Primax Electronics and spinning off PaperPort, Visioneer’s proprietary software. In 1999, Visioneer decided to acquire ScanSoft from Xerox and the newly formed company was known by the brand name ScanSoft.
The history of ScanSoft dates back to 1974 when Raymond Kurzweil founded a company to develop the first omni-font optical character recognition system. This company and the technology were sold to Xerox in 1980 which later became famous as ScanSoft. After the acquisition of ScanSoft by Visioneer, the newly formed public company focussed on looking beyond just designing desktop imaging software. So, in 2001, the company entered the speech recognition market after acquiring Lernout & Hauspie. After entering into this new sector, the biggest competitor of ScanSoft was Nuance Communications. In 2005, ScanSoft decided to merge with its competitor and thus acquired Nuance for $221 million. The merged company was named Nuance Communications.
Technologies of Nuance Communications
Nuance uses cutting-edge technologies to provide advanced solutions across a wide range of industries. In 1996, the company launched a product called PowerGrid which was the first clinical speech-to-text automation product for the healthcare industry. This product helped in cutting the transcription cost by 87 percent. On the other hand, Dragon Systems which was a part of ScanSoft (since it acquired Lernout & Hauspie) made some major breakthroughs. In 1997, Dragon NaturallySpeaking was rolled out and it became the first speech detection system in the world for commercial use. In 2012, Nuance became the first company to enable mobile EHRs with speech recognition systems which helped the doctors to document medical records on the go. The two companies Nuance and ScanSoft (Dragon Systems) gave each other very strong competition, so the merger of the two companies created an even more powerful conglomerate in the speech recognition business.
After the merger till recent date, Nuance Technologies has rolled out many impressive products with ensured quality and protection. In 2015, the automatic speech recognition technology of Nuance was combined with a major television network provider for delivering a remote-controlled voice interface to the customers. In 2017, Dragon TV bagged the Technology & Engineering Emmy Award for “Contextual Voice Navigation for Discovering and Interacting with TV Content.” The customers of Nuance have been recipients of many prestigious awards for the enhanced quality of work they produced by using Nuance solutions which helped the company win the Technology Partner of the Year award.
Acquisitions and Mergers
After ScanSoft merged with Nuance, the merged company acquired many companies from 2006 till date. The first acquisition was for $357 million in 2006 when it bought Dictaphone Corporation. Nuance acquired companies from a variety of sectors which helped it expand to biometric solutions, healthcare documentation, etc. In 2011, Nuance acquired Noterize, a company that developed software for Apple iPad. This year, Microsoft has offered to buy Nuance Communications for $19.7 billion but the deal is still pending.
Mark Benjamin – CEO of Nuance Communications
Mark Benjamin is the CEO and President of Nuance Communications since 2018. Even after the deal is successfully closed with Microsoft, Mark will stay as the CEO of the company. Before Mark joined Nuance, he served as the President and COO of NCR Corporation. Mark completed his graduation from the University of Miami and has a rich working experience of more than 20 years across 100 countries.
Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more