Nuance Communications files for $72.45 mln IPO
WASHINGTON, Feb 7, 2000 (Reuters) - Nuance Communications, maker of voice integration software used to make Internet information and services available through the telephone, filed with regulators to raise as much as $72.45 million in an initial stock offering.
Its voice browser Voyager, which will be commercially available later this year, is designed to provide a voice user interface for access to traditional telephony applications, voice portals and voice-enabled Internet content.
Primarily brokerages, banks, airlines and retailers like Charles Schwab Corp. (NYSE:SCH - news) and Delta Air Lines Inc. (NYSE:DAL - news) use Nuance's software to provide customers with a range of information from stock quotes to home banking services as well as travel information and purchase services.
The company, based in Menlo Park, Calif., was founded in 1994. Cisco Systems Inc. (NasdaqNM:CSCO - news) holds a 9.4 percent stake in Nuance prior to the offering and entities affiliated with the Goldman Sachs Group Inc. (NYSE:GS - news) hold a 6.5 percent stake, according to the filing.
The company did not disclose in its preliminary prospectus filed with the Securities and Exchange Commission late Friday how many shares it plans to sell or the projected range per share, information that will likely come in subsequent filings.
It plans to use the proceeds from the IPO for general corporate purposes including working capital and capital spending.
Nuance had approximately $13.5 million in revenue and $11.4 million in net losses in the nine-month period ended Sept. 30, the filing showed.
Ronald Croen, 45, helped co-found the company and has been the company's president since July 1994 and chief executive since October 1995.
The $72.45 million figure in the IPO filing was merely a basis for calculating the SEC registration fee, the company said. It has applied to trade its shares on Nasdaq under the symbol (NasdaqSC:NUAN - news) once it goes public.
Goldman, Sachs & Co., Thomas Weisel Partners LLC, Dain Rauscher Wessels and Wit SoundView are the underwriters for the offering.
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