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Updated Monday, August 15, 2011 10:12 pm TWN, AP

Telecom Italia to sell unit to firm to Nuance Inc. for US$75.5 million

This April 2, 2007 file photo shows the Telecom Italia headquarters in Rozzano, on the outskirts of Milan, Italy. Italian telecommunication company Telecom Italia SpA has agreed to ...

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Telecom Italia to sell unit to firm to Nuance Inc. for US$75.5 million

ROME -- Italian telecommunication company Telecom Italia SpA has agreed to sell its voice-technology unit Loquendo to American company Nuance Communications Inc.

Telecom said Saturday that the sale has an enterprise value of 53 million euros (US$75.5 million). It is part of Telecom's reorganization and focus on its core business.

Telecom said in a statement that Burlington, Massachusetts-based Nuance Communications is committed to keeping Loquendo's headquarters in the Italian city of Turin. Loquendo has a work force of about 100 people.

The deal is expected to close at the end of next month, according to the statement.

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