Where Is Carl Icahn Prowling Now?
Carl Icahn was on the prowl again, and this time he found himself investing in a 9.3 percent stake in Nuance Communication (NASDAQ:NUAN) — the company suspected to be behind the technology for Apple’s (NASDAQ:AAPL) Siri.
Icahn’s investment was made known Monday in a filing by the billionaire investor. The short-term impact of his investment was a quick boost for the company’s shares. Its stock had dipped sharply in the middle of February from over $24 per share to less than $19 per share. After working its way back up to just over $20 per share, Icahn’s investment helped push it up 7.9 percent to a height of $21.77 Tuesday morning.
While the short term effects are one thing, the long term impact of a Icahn’s more than $591 million investment could show up in the advancement of Nuance’s choice technology field: voice-recognition technology.
When Apple launched the iPhone 4S with its voice assistant, Siri, on board, Apple had a selling point that not a lot of other company’s had. But, many competitors are now chasing down their own voice-recognition technologies…