News : Ozonetel Acquires YantraSoft’s Speech Recognition Vertical
August 12, 2014 -- Hyderabad-headquartered Ozonetel Systems Ltd, a provider of on-demand cloud communication services for enterprises, has acquired the speech recognition vertical of enterprise IT firm YantraSoft Inc. in an equity-plus-earn -out deal, Ozonetel’s founder CSN Murthy told VCCircle. However, the transaction details are not disclosed.
As per the agreement, all employees of YantraSoft’s speech recognition vertical will join Ozonetel. Post the transaction, Ozonetel will add speech services to its existing offerings, which can be used in call centres to convert text to speech in Indian languages. The acquisition will also help Ozonetel expand its footprint into the US.
Ozonetel was founded in 2007 by Murthy, a serial entrepreneur who had previously co-founded Intoto, a network security and convergence startup which was acquired by Freescale Semiconductor. Ozonetel enables enterprises to manage their sales, support and marketing communications. Its products include CloudAgent, a cloud-based contact centre; KooKoo, a multi-channel cloud communication platform; and primary rate interface (PRI) cards for voice communication.
Ozonetel had earlier acquired VoiceGain’s Indian customers and partnered with AksharSpeech for text-to-speech service.
Posted by Veronica Silva Cusi, news correspondent
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About YantraSoft Inc.:
Headquartered in California, YantraSoft was founded in 2008 by Nixon Patel, who had earlier also founded Yantra eSolarIndia and AtriPharma. YantraSoft provides IT services to SMEs. Its offerings include software development
About Ozonetel Systems:
Ozonetel Systems is a Hyderabad-headquartered cloud telephony services firm.
Published: Wednesday, August 13, 2014