Franklin firm buys AT&T speech technology
A Franklin developer of speech recognition technology has completed its acquisition of a research and technology program from A&T that it says will help make speech recognition more accurate.
Interactions Corp. had announced the deal last month to acquire AT&T’s product, called Watson. In a statement, Interactions said combining Watson with its Adaptive-Understanding technology will create a platform that “will offer a meaningful alternative to the existing market options currently available for enterprises and developers.”
AT&T will receive an undisclosed equity stake in Interactions as part of the deal.
"This is going to make the whole speech and natural language market much more interesting and dynamic," Dan Miller, senior analyst and founder of Opus Research, said in the Interactions statement. "Enterprises are looking to provide easier paths for consumers to carry out everyday activities over smartphones and other devices and need the tools to make this happen.
Interactions, with AT&T technology, can fill this need. The deal marks a big change in the speech processing market."
The acquisition includes the transfer of assets related to AT&T Watson from AT&T Labs Advanced Technologies, based in New Jersey and New York. Those assets also include certain patents and intellectual property, plus members of the research team, including world-class speech scientists, researchers and software engineers.
With the close of this transaction, Interactions said it will push development of its “Interface of Things,” a new wave of speech, touch and text-enabled interfaces, which will be rolled out in early 2015 for original equipment manufacturers, developers and enterprises, the company said.
WBJ Web Partners
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