Carl Icahn to shake-up Nuance?
Is Carl Icahn about to shakeup the world of speech recognition software? According to a report in the Wall Street Journal, the activist investor Carl Icahn says he may seek talks with Nuance Communications Inc regarding the possibility of adding nominees to Nuance’s board.
Icahn – known for amassing big stakes and pushing for change at underperforming companies – holds 52.4 million Nuance shares, or a 16.9% stake. He and his affiliates had first disclosed a 9.3% stake in Nuance in April, without detailing any specific intentions for the company. Mr. Icahn and his affiliates increased their stake in Nuance earlier this month.
Nuance is best known in the legal IT sector for its Dragon speech recognition software and its ownership of the Copitrak and Equitrac cost recovery businesses.