In 1980, Kurzweil sold his company to Xerox. to develop the first omni-font optical character-recognition system – a computer program capable of recognizing text written in any normal font. In 1974, Raymond Kurzweil founded Kurzweil Computer Products, Inc. During the prior decade, the two companies competed in the commercial large-scale speech application business. The resulting company adopted the Nuance name. acquired and merged with Nuance Communications, a natural language spinoff from SRI International. (SSFT), and the combined company became known as ScanSoft. In 1999, Visioneer acquired ScanSoft, Inc. The company that would become Nuance was incorporated in 1992 as Visioneer. The acquisition was completed in March 2022. The deal is an all-cash transaction of $19.7 billion, including company debt, or $56 per share. In April 2021, Microsoft announced it would buy Nuance Communications. The original ScanSoft had its roots in Kurzweil Computer Products. ScanSoft was a Xerox spin-off that was bought in 1999 by Visioneer, a hardware and software scanner company, which adopted ScanSoft as the new merged company name. Nuance merged with its competitor in the commercial large-scale speech application business, ScanSoft, in October 2005. is an American multinational computer software technology corporation, headquartered in Burlington, Massachusetts, that markets speech recognition and artificial intelligence software.
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