Voice To Text Mobile Firm SpinVox Eyeing Float Again


Never mind the weak financial markets. SpinVox the mobile phone firm that turns voicemails into text is reportedly considering floating the company again. The five-year old company, which operates in 7 countries and claims it will reach 30 million customers this year, has appointed Goldman Sachs to help it raise financing that could put a £200 million price tag on the firm. The company has been itching to float for a few years now, with the founders apparently eyeing up the success of its American rival Nuance Communications, which is listed on Nasdaq with a market value of around $3.6 billion (£1.79 billion). SpinVox initially considered taking the company public in 2006, but couldn’t drum up enough interest. Following its deal with Alltel (NYSE: AT) last August to supply its products to the operator’s 12 million users it said it would try again. The Times.co.uk has done a little digging at Companies House which revealed that sales were only £436,000 in 2006. It expects, however, for sales to boom, reaching £40 million in 2008 to £100 million in 2009, after signing on 12 additional operators to carry their product this year.

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