Three takeaways from two noteworthy summer voice AI acquisitions
Capacity acquires CereProc; NLX acquires Radish Systems
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This summer, St. Louis-based Capacity, an AI-powered support automation platform, went out and acquired one of my favorite companies in the synthetic voice space, CereProc.
CereProc, helmed by industry veteran Paul Welham and based in the UK, had this to say in the formal press release:
"The right speech tools are essential for Contact Center efficiency. CereWave AI, our advanced synthetic speech engine, is easily embeddable and customizable with a voice of a customer's choice, making it an ideal enhancement in a complete solution like Capacity," said Paul Welham, CEO, CereProc. Welham will continue to lead Cereproc and serve as a member of the Capacity executive leadership team following the acquisition.
Meanwhile, NYC-based NLX, led by CEO Andrei Papancea, snapped up Radish Systems, a company whose technology I’ve fondly mentioned previously in this newsletter and created a wonderfully elegant multimodal solution that was looking for a long-term home.
Well, they found it. From the NLX press release:
NLX®, the AI platform powering advanced conversational experiences for the world’s most admired brands, today announces it has acquired Radish Systems and its patented ChoiceView® technology which seamlessly adds visual interaction on voice transactions to improve efficiency, user experience, and accessibility for customer service inquiries. This complements NLX’s proprietary technology which includes its industry-leading, patented multimodal capabilities.
Three takeaways from these acquisitions:
Prepare for more consolidation within voice AI. There’s too many players these days within every facet of the voice value chain to be sustainable. Savvy CEOs will act decisively when they see partners aligned with them.
Macroeconomic pressure on M&A will remain high the rest of 2024. A volatile political atmosphere along with currency pressure here in the US and abroad is creating turbulence for AI startups. Finding an exit may not be easy.
AI companies still yearn for marketing differentiation. The global marketplace still struggles to discern which AI provider is better than the others, as storytelling and comparative analysis around solutions is immature. These sorts of acquisition opportunities provide vast surplus value as a marketing device that shouldn’t be overlooked.
Look for a more regular publication schedule of This Week In Voice VIP beginning in September. Enjoy the rest of the summer.