Apple Acquires Novauris
Novauris was a UK company that had developed its own embedded and server-based speech recognition engines. They consisted of only a small technical team, and had raised friends and family money. The technology worked well, but had limited field testing and a small language library at the time MSG got involved.
The MSG team guided Novauris to a successful exit by managing a global “road show” that later led to interest among multiple large companies in Asia, Europe and North America seeking to conclude a deal.
MSG raised Novauris’ profile by introducing them to the world’s major semiconductor companies. Some tested the company’s technology, and the tests went well, but limited interest at the time in embedded speech technology restricted acquisition interest and potential valuation. But the company was now on the radar of large multinationals. We decided to wait.
As demand for embedded speech developed, interest was renewed among such global giants as NXP, Huawei, Samsung and others. Management ultimately selected Apple, and Novauris was sold at a high multiple reflective of the competition for its technology and team.