As well, the Company anticipates seeing potential acquisition activity on behalf of tablet PC makers, such as Microsoft Corp. (MSFT-NASDAQ). Global mergers and acquisitions (M&A) volume increased more than 23% during 2010, with U.S. M&A activity reaching $822 billion during the year (Source: New York Times January 2011).
WordLogic maintains that there are similarities between its predictive search technology and features of Google Instant. The Company believes that its technology is comparable to Google Instant, with potentially greater depth and versatility.
Acquisitions of Next-Generation Technology Developments Additionally, as summarized below, there have been several major corporate agreements that WordLogic believes underscore the industry’s interest in predictive technology for text input, applications, and webpage searches.
In August 2007, Nuance Communications, Inc. (NUAN-NASDAQ), a provider of voice and language solutions, completed its acquisition of Tegic Communications Inc., a developer of embedded software for mobile devices and formerly a wholly owned subsidiary of Time Warner Inc. (TWX-NYSE). Nuance purchased Tegic for roughly $265 million (Source: Seattle Times August 2007). Tegic created the T9® predictive text input software installed on more than four billion devices as well as an XT9® next-generation integrated text and touch input solution. Since the acquisition, Nuance has continued optimizing these platforms, as further detailed in the Competition section on pages 32-33.
InApril2010,AppleInc.acquiredSiri,acompanythatdevelopedavoice-operatedpersonalassistant application for the iPhone. Apple’s purchase of Siri underscores its belief that mobile search is unlike desktop search, as consumers are using applications to immediately access the desired Internet data without using generalized search (Source: Financial Times April 16, 2010). The Siri acquisition helped Apple enter the mobile search arena. Terms of the agreement were not disclosed, although it has been estimated at roughly $200 million (Source: TechCrunch [techcrunch.com] April 28, 2010).
In October 2010, Google purchased San Francisco-based BlindType, a service that enables faster and more accurate typing on a virtual keyboard. BlindType is intended for iOS and AndroidTM devices. It predicts text even when the wrong letters are tapped and was designed to be highly tolerant of gibberish, recognizing and replacing the misspelled terms with the likely intended word. Terms of the acquisition were not disclosed. Altogether during 2010, Google made more than 20 acquisitions (Source: PCWorld October 2010).
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