Zi Corporation (NASDAQ: ZICA), a struggling Calgary, Alberta-based company whose software is designed to speed text entry on mobile devices, today rejected a takeover offer from Burlington, MA-based speech recognition giant Nuance Communications (NASDAQ: NUAN). Nuance reacted angrily, calling the rejection “perplexing and inappropriate” given Zi’s financial condition.
Last Thursday—the same day Zi announced widening financial losses for the second quarter of 2008—Nuance pounced, saying in a letter to Zi’s board of directors that the time for a sale of the company had come. Nuance noted that Zi was hemorrhaging cash and that low stock trading volumes had put the company in danger of being delisted by the NASDAQ exchange. “We believe that a negotiated transaction with Nuance would be the best way for Zi Corporation to maximize shareholder value, and in particular, to offer substantially superior value…relative to any available alternatives,” Nuance CEO Paul Ricci said in a the letter, which Nuance released to the media. [click heading for more]
www.getdesign.in - My periodic blog exploring the world of business, experience design and interaction, with a smattering of gadgetry and social media. A world where business, people and technology meet.
Let's Fix Things: For over two decades I've been consulting in Communications Design: Everything from business strategy and processes, through to technology, interaction and customer experience. The thoughts here are my own, not necessarily that of my employer.
I have a penchant for spotting patterns and fixing broken user and customer experiences. Even my Bumblebee project hasn't escaped - I've been using Six Sigma techniques to study and predict their behaviour patterns. ☺