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Registry Magic strikes Microsoft pact, stock jumps
BOCA RATON, Fla., March 2 (Reuters) - Speech recognition software developer Registry Magic Inc. <RMAG.O> and Microsoft Corp. <MSFT.O> on Tuesday announced a pact to create a system to allow worldwide access to the Internet by speaking over a telephone.
Shares of Registry Magic jumped more than 60 percent to $8.75 before settling somewhat. The stock was up $2..25, or 41 percent, at $7.69 in late morning trading and was the second highest percentage gainer on Nasdaq.
The software, which combines Registry Magic's speech-recognition technology and Microsoft's Web-based interactive voice response technology, will allow worldwide access to the Internet and execute electronic commerce transactions without being in front of a personal computer.
The product is targeted at large corporations and Internet service providers and is targeted at increasing web site exposure to users without PC skills, Registry Magic said in a statement.
"We share the vision that in the short years to come, users will converse with the Internet just as they do with people, and our Virtual Operator technology is the perfect platform to enable it," Registry Magic chief executive officer and president Walt Nawrocki said.
Registry's "Virtual Operator" software performs the tasks of a live operator by using speech-recognition technology, and can answer up to twelve calls at once, it said.
11:57 03-02-99
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