Cloud telephony company Ozonetel Systems has acquired the speech recognition vertical of Yantra Software in a pay-out model for an undisclosed amount. Post the acquisition Yantra Software’s 20 member team will join Ozonetel. The Hyderabad-based company’s Intellectual Property (IP) and technology will also become a part of Ozonetel.
Yantra Software’s speech recognition solutions include: Text-to-Speech engine for India languages, Speech Recognition engine for Indian dialects, Gender Identification (to automate targeted service and conduct customised surveys), Speech Biometric (to identify speaker, security measure) and Sentiment Analysis. It’s worth noting that the Yantra Software website (www.yantrasoftware.com) mentioned on the company’s LinkedIn page isn’t working.
Ozonetel plans to provide these solutions on its cloud platform in a pay as you go model, the company said. Also, these solutions will be provided in ready-to-use applications, with pre-tuned domain-specific vocabulary. It essentially means that businesses will not require skilled personnel to operate it.
What happened to Akshar Speech tie-up?
Back in January 2012, Ozonetel had introduced text-to-speech support for Hindi and Telugu in its cloud telephony solution KooKoo. The speech engine was powered by a Hyderabad-based startup Akshar Speech. So, why hasn’t Ozonetel continued developing speech recognition solutions with Akshar Speech?
Competition: Nuance and Lumenvox provide support for Indian languages in their respective speech recognition solutions. However, SMEs cannot use these solutions because of the prohibitive price and the requirement for skilled operators.
Last year Ozonetel acquired the customers of cloud telephony company Resolvity Information Technologies’ VoiceGain product, after the company decided to shut shop in India.
Last month, one of Ozonetel’s primary competitors in the cloud telephony space in India, Knowlarity raised $16 million in Series B funding from Sequoia Capital and Mayfield Advisors. Earlier this year, Knowlarity had acquired cloud telephony startup Unicom Techlabs.