Speech recognition firm Nuance Communications has acquired Indian based mobile value add services firm mCarbon Tech Innovations in a cash-and-stock transaction, estimated at about $36 million (Rs 240 crore).
Founded in 2008, mCarbon Tech Innovations, which started off focusing on core network value add services, provides innovative revenue uplift and customer value management products for telecom operators.
The mCarbon Tech focuses on the Indian, Middle East and African regions, and counts Private Equity Grou (JP Morgan) and Canaan Partners among its investors.
Nuance earlier acquired advanced speech recognition technology venture Dragon System and competes with Google, IBM and Microsoft in the speech recognition tech.
