Telecom Italia Sells Loquendo To US's Nuance Communications
August 13 2011 - 3:20AM
Dow Jones News
Italian telecommunication company Telecom Italia SpA (TIT.MI)
said Saturday it has sold a voice technology unit, Loquendo, to
U.S. company Nuance Communications Inc. (NUAN) for an enterprise
value of EUR53 million ($75.5 million).
The sale of Loquendo is part of a wider rationalization plan
already announced by Telecom Italia earlier this year. In a
statement, Telecom Italia said that Nuance is committed to keep the
company's headquarters in the Italian city of Turin.
Telecom Italia expects to close the deal around the end of
September.
-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906;
sabrina.cohen@dowjones.com
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