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I'm thinking it was spun off so it could be acquired...
Cerence Inc. (NASDAQ: CRNC), AI for a world in motion. Developing game-changing innovations for the automotive cockpit of the future.
My cousin works for Nuance and told me about this spinoff @ $21.96
We need this symbol updated to CRNC
Interesting that the elephant in the room, navigation, is not mentioned.
Car Platform October 31, 2019, 6:00 AM MDT Cerence and Wuling Motors Partner to Build WIND, Indonesia’s First Intelligent Car Platform Wuling’s WIND (Wuling Indonesian Command) Honored with 2019 Apresiasi Inovasi Award in the Technology Category BURLINGTON, Mass., Oct. 31, 2019 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that its Cerence Drive platform powers Wuling Motors’ award-winning WIND (Wuling Indonesian Command), Indonesia’s first Indonesian-language voice control technology platform that marks a significant deployment for Cerence in the region. Summoned with a simple, “Halo Wuling,” WIND is available in all variants of the award-winning Wuling Almaz and was recently recognized with a 2019 Apresiasi Inovasi Award in the technology category. With natural interaction in the local language, Bahasa Indonesia, WIND enables seamless operation of and interaction with in-car features ranging from opening and closing the sunroof and windows to controlling in-car entertainment and running diagnostics for vehicle issues. “WIND is the first of its kind in Indonesia, ushering in a new era of automotive innovation in our region,” said Yin Yi, Brand & Marketing Director, Wuling Motors. “As our cars become more advanced and as there are an increasing number of features to navigate, the easy and natural voice-powered interaction enabled by the Cerence Drive platform is critical to enhance the in-car experience and ensure the safety of our customers.” “Indonesia is one of the fastest growing automotive markets in the world, creating a bigger need and consumer desire for connected and integrated technologies in the car,” said Sanjay Dhawan, CEO, Cerence. “We are proud to partner with Wuling as it becomes the first automaker to bring a seamless, conversational and future-forward mobility experience – in the local language, no less – to this thriving region.” Cerence, which recently spun out of Nuance Communications as an independent automotive AI company, delivers immersive experiences that make people feel happier, safer, more informed, and more entertained in their cars. Bringing together voice, touch, gesture, emotion, and gaze innovations, it creates deeper connections between drivers, their cars and the digital world around them. Cerence powers AI in nearly 300 million cars on the road globally across more than 70 languages for nearly every major automaker in the world. To learn more about Cerence, visit www.cerence.com, and follow the company on LinkedIn and Twitter.
How it works: https://www.nuance.com/automotive/dragon-drive.html#standardpage-mainpar_flexibleasset_copy_c
Nuance delivers the industry’s most intuitive voice. Nuance’s Dragon Drive platform enables the user experience of tomorrow in the cars of today, understanding individual preferences, personalizing entertainment and executing complex, contextual commands. It can find preferred parking, play users' favorite songs, direct them to the best-priced gas stations and turn up the voices they need to hear while muting the ones they don’t. Nuance supports automakers with capabilities that maximize the safety, productivity and enjoyment of customer journeys while elevating the identity of each unique brand.
Nuance Announces “When-Issued” Trading in Connection with Upcoming Spin-Off BURLINGTON, Mass., September 16, 2019 - Nuance Communications, Inc. (NASDAQ: NUAN) (“Nuance”), a leading provider of conversational AI, today announced that, in connection with the previously announced spin-off of Cerence Inc. (“Cerence”), it has been advised by Nasdaq that shares of Cerence common stock begin trading today on a “when-issued” basis on the Nasdaq Global Select Market under the symbol “CRNCV” and will continue through October 1, 2019 (the “Distribution Date”). Sales and purchases of Cerence common stock on a “when-issued” basis are made conditionally on the distribution of the shares, and the sales and purchases generally settle within three trading days after the Distribution Date. Following the Distribution Date, shares of Cerence common stock are expected to trade “regular-way,” at which time Cerence common stock will trade under the symbol “CRNC” on the Nasdaq Global Select Market. Nuance has also been advised by Nasdaq that shares of Nuance common stock begin trading today on an “ex-distribution” basis on the Nasdaq Global Select Market under the symbol “NUANV” and will continue through the Distribution Date. Shares of Nuance common stock that trade in the “ex-distribution” market will trade without an entitlement to shares of Cerence common stock distributed in the spin-off. At the same time, Nuance shareholders who sell shares of Nuance common stock in the “regular-way” market up to and including the Distribution Date will be selling their right to receive shares of Cerence common stock in the spin-off. Nuance shareholders are encouraged to consult with their financial advisors regarding the specific implications of buying or selling Nuance common stock on or before the Distribution Date.