Voxware completes transition to private company

Privatization enables investment for growth and reduces cost.
By Modern Materials Handling Staff
December 14, 2010 - MMH Editorial

Voxware, a leading supplier of software for voice-driven warehousing operations, announced today that it has completed the process of becoming a private company.

The move follows a decision by Cross Atlantic Partners, one of the company’s major shareholders, to make a further investment in Voxware in support of its strategic plan, in conjunction with a going private transaction.

“This is a watershed event for us,” said Scott Yetter, Voxware’s CEO. “The burden and cost of public company compliance keeps rising every year. As a private company, we now have greater operational flexibility and can focus more on long-term growth without undue emphasis on short-term earnings and fluctuations in the price of our stock. Building new software products is the best use of company resources that will maximize benefit to our customers, employees, and shareholders.”

“Over the past five years, Voxware has introduced the most significant innovations to the market for voice-directed warehousing. Our Voxware 3 product has transformed the company from a custom developer of proprietary solutions to a software products company with an open and packaged offering. We have led the way to lower overall cost and faster implementations of voice solutions for customers, and we’ve been very pleased by marketplace reaction,” Yetter continued. “As a private company, we can now devote even more resources to accelerated evolution of our product line.”



Subscribe to Modern Materials Handling magazine

Subscribe today. It's FREE!
Find out what the world's most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Recent Entries

Employees worked more than 725,000 hours without a lost-time incident.

Process improvement leads the way for understanding how automation can reduce human effort and intervention. Yet 39% of companies have not performed process reengineering in the last year.

New division to provide turnkey material handling systems for warehousing and distribution, post and parcel, and industrial markets.

The year 2015 marks a major milestone for the industry, MHI is celebrating its 70th anniversary at ProMat 2015, held March 23-26, 2015.

Equipment Leasing and Finance Foundation's monthly confidence index at 66.3 in February, up from 66.1 in January.

Article Topics

News · Voice · Automatic Data Capture · Voxware · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA