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Voice To Text Mobile Firm SpinVox Eyeing Float Again

By Dianne See Morrison - Tue 11 Mar 2008 05:33 AM PST

Never mind the weak financial markets. SpinVox, the mobile phone firm that turns voicemails into text, is reportedly considering floating the company again. The five-year old company, which operates in 7 countries and claims it will reach 30 million customers this year, has appointed Goldman Sachs to help it raise financing that could put a £200 million ($402.4 million) price tag on the firm. The company has been itching to float for a few years now, with the founders apparently eyeing up the success of its American rival Nuance Communications, which is listed on Nasdaq with a market value of around $3.6 billion. SpinVox initially considered taking the company public in 2006, but couldn’t drum up enough interest. Following its deal with Alltel (NYSE: AT) last August to supply its products to the operators 12 million users it said it would try again. The Times.co.uk has done a little digging at Companies House which revealed that sales were only £436,000 ($876,734) in 2006. It expects, however, for sales to boom, reaching £40 million ($80.4 million) in 2008 to £100 million ($201 million) in 2009, after signing on 12 additional operators to carry their product this year.

Posted in: Companies, Technologies

Tags: goldman sachs, spinvox,


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mocoNews.net is a news site covering the business of mobile content.

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