Fluency Voice Technology, a provider of speech recognition applications for use in contact centres, announced that it is to acquire Vocalis, thereby creating the dominant player in UK speech recognition solutions. The combined group will have a prevalent position in the UK financial services, travel and utilities sectors. The business will have over 80 employees across the UK, US and India within some 20 reference sites.
“We see great value in Vocalis’ experience of creating and deploying speech recognition solutions. This acquisition expands not only our customer base with additional excellent client relationships, but also our existing talent. The combined business will focus on applications, which has always been our strategy, and we will continue to partner with leading global technology companies to deliver full technology solutions to clients,” Alex Green, CEO of Fluency Voice Technology commented.
The combined business will also be able to benefit from Fluency‘s software development team in India, who provide a low cost components and applications manufacturing. Vocalis was an early leader in the development of the UK speech recognition market. The business was formed in 1993 by a management buy out from Logica. The parent company is Vocalis PLC, which has been listed on the UK Stock Exchange since July 1996.
“The combination of Vocalis with Fluency brings great added value to Vocalis’ clients and business model. I am looking forward to working with my new colleagues at Fluency,” said Richard Watrasiewicz, operations director of Vocalis.
The acquisition is being made by Netdecisions, Fluency‘s largest shareholder and a provider of IT services, consulting and systems integration.
Vocalis ran into trouble because, after two early sales wins, it could not win enough new business. Executives then tried to raise funds in the City in the early summer but could not garner enough support. Vocalis is understood to have enough cash to pay off its trade creditors, but its shareholders are likely to be left with a fraction of its last share price, of 1.125p.
Filipe Samora with Times Online
2003-08-21
Em Foco – Empresa