Automatic speech recognition technology developer fonix Corp. in Draper has announced its intent to buy all outstanding shares of Articulate Systems, Inc., for a combination of cash and stock.
Articulate Systems, producer of advanced speech recognition products, will become a wholly owned subsidiary of fonix. "We believe Articulate's technology is totally complementary with ours, and we see attractive opportunities to enhance the existing Articulate system," said Stephen M. Studdert, fonix chairman and chief executive officer.Articulate's PowerScribe products incorporate Dragon Systems' speech recognition technology. Dragon Systems Inc. becomes a minority shareholder in fonix as a result of the transaction.