Reuters: Icahn Raises Nuance Stake, May Push for Board seats

(Reuters) – Activist investor Carl Icahn said he had raised his stake in speech recognition software maker Nuance Communications Inc to 16.9 percent and that he may discuss the possibility of adding his nominees to the company’s board.

Icahn had reported a stake of 16.03 percent earlier this month.

Nuance shares were up 2 percent in extended trading after closing at $18.31 on the Nasdaq on Thursday.

Icahn said he had acquired the shares “in the belief that they were undervalued.”
Apple Inc uses Nuance’s speech recognition technology in its iPhone devices as part of its “Siri” voice feature.

Nuance cut its full-year forecast earlier this month as some of its mobile customers had delayed contracts.

Icahn, who is known for taking large positions in companies and pushing for management change, revealed on April 1 that he had taken a 9.27 percent stake in Nuance.