|[December 16, 2014]
Interactions Closes Strategic Deal to Acquire AT&T Watson Speech Recognition and Natural Language Understanding Platform
With the goal of delivering the most accurate and conversational speech
recognition and multi-modal interface solutions, Interactions
Corporation today announced the completion of its acquisition of the
AT&T (News - Alert) Watsonsm technology program. With the close of this
transaction, Interactions will drive development of the "Interface of
Things," a new wave of speech, touch and text-enabled interfaces with
unprecedented accuracy and provide a true market alternative for OEMs,
developers and enterprises.
"This acquisition allows Interactions to deliver fundamentally
disruptive technology that will enable the development of highly
intuitive interfaces for virtually any device or service and deliver on
our vision for the 'Interface of Things,'" said Mike Iacobucci, CEO of
Interactions Corporation. "Interactions will empower enterprises and
developers to create solutions that otherwise wouldn't be possible -
enabling development of natural language solutions for smart
automobiles, connected homes and wearable devices that respond naturally
to human interaction."
By combining AT&T Watson with Interactions' award-winning
Adaptive-Understanding™ technology, the company will make available
speech and multi-modal capabilities that deliver unprecedented accuracy
in understanding. This new technology platform will offer a meaningful
alternative to the existing market options currently available for
enterprises and developers.
"This is going to make the whole speech and natural language market much
more interesting and dynamic," said Dan Miller (News - Alert), senior analyst and
founder, Opus Research. "Enterprises are looking to provide easier paths
for consumers to carry out everyday activities over smartphones and
other devices and need the tools to make this happen. Interactions, with
AT&T technology, can fillthis need. The deal marks a big change in the
speech processing market."
"This is an exciting transaction and the type of strategic move we like
to see from a disrupter in a market starving for innovation," said Craig
Nankervis, senior vice president focusing on CRM optimization for
investment firm First Analysis. "This deal offers Interactions the
opportunity to deepen its core capabilities while also extending its
market opportunities. In terms of fit, this is one of the better
acquisitions we've seen in the contact center and voice-interface
AT&T Watson is a globally renowned speech recognition and natural
language understanding platform. The acquisition, coupled with
Interactions' existing technology portfolio, positions Interactions as
the leading provider of speech and multi-modal technologies. The
acquisition includes the transfer of assets related to AT&T Watson from
AT&T Labs (News - Alert) Advanced Technologies, including the AT&T Watson technology,
certain patents and intellectual property and members of the talented
research team, including world-class speech scientists, researchers and
software engineers. In exchange, AT&T will receive an undisclosed equity
stake in Interactions.
Interactions will offer developers, enterprises, original equipment
manufacturers (OEMs) and others the opportunity to license Watson as a
standalone technology or combined with Interactions' other natural
language understanding solutions to provide the most flexible solutions
available. A host of delivery options, including cloud-based, on premise
and embedded will be available to flexibly meet the varying needs of
Interactions will announce specific product offerings throughout early
2015. Further information about the transaction is available at www.Interactions.net.
Interactions Corporation develops and markets award-winning natural
language understanding technology used by Fortune 500 companies
worldwide. Built on its patented Adaptive-Understanding™ technology that
seamlessly integrates both human and machine intelligence, Interactions
provides highly conversational virtual assistant solutions. Companies
such as Hyatt, Best Western, Humana, TXU Energy, Asurion (News - Alert) and AllConnect
deploy Interactions' solutions.
The company's sales, service and support solutions are delivered across
any device with type, touch or talk capabilities, and have handled more
than one billion transactions to date. Rooted in natural speech
recognition and built to adapt to human conversation, Interactions'
solutions have delivered cost-savings and increased efficiencies in
sales and support for some of the largest companies in the world.
Interactions Corporation, founded in 2004, is headquartered in Franklin,
Massachusetts and has additional offices located in Indianapolis,
Indiana and Austin, Texas.
AT&T, the AT&T logo and all other AT&T related marks shown herein are
trademarks of AT&T Intellectual Property and/or AT&T affiliated
companies and are used herein by permission. This press release is not
issued by AT&T, AT&T and its affiliates assume no responsibility for the
preparation, content or use of this announcement.
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