Carl Icahn Reaches A Deal With Nuance Communications Inc (NASDAQ:NUAN)

Posted by Lynn Eisler October 9, 2013 0 Comment 2735 views

Via his Twitter account, billionaire Carl Icahn revealed that he has reached a deal with Nuance Communications Inc (NASDAQ:NUAN) to place 2 representatives from his own company on their company’s board. Icahn is always in the news for these kinds of tactics. It was just in August that he revealed that he had a stake in Apple and the company’s surged 4% on the news.

The SIRI maker

Nuance Communications Inc (NASDAQ:NUAN) is a well known company in the technology field and create SIRI, the personal assistant for Apple and Dragon, the speech-based software. Icahn is confident that this change in the company’s board will catapult it higher into the Wall Street echelons.

In an activist move, Icahn had opposed the Dell takeover bid by its founder Michael Dell. Last week, he stated that he will not be making any more efforts to have the computer maker’s shares appraised.

Tuesday’s trading session

In Tuesday’s trading, Nuance Communications Inc (NASDAQ:NUAN) dropped by 1.95%. The shares opened at a price of $18.80, which was the intraday high and dipped to a close of $18.13. Approximately 10.67 million shares were traded on Tuesday while an average volume of 3.96 million shares were traded over a 30 day period. The 52-week low of Nuance Communications Inc (NASDAQ:NUAN) shares is $17.90 and its 52-week high is $24.85. The company has a market capitalization of $5.69 billion.

About the company

Nuance Communications Inc (NASDAQ:NUAN) is a company that provides language and voice solutions to consumers and businesses across the world. Its solutions are used in industries such as mobile, healthcare, consumer, enterprise customer-service, and imaging-markets. Nuance Communications Inc (NASDAQ:NUAN) offers accuracy, natural-language understanding capability, domain-knowledge and implementation-capabilities. Its solutions are based on its voice and language-platform and various businesses use it for services and tasks.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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