On November 18, 2005, Intervoice announced its intent to acquire Edify for $33.5 million in cash. Opus Research predicted more mergers and acquisitions to happen in the wake of the ScanSoft/Nuance acquisition and expects this to continue in the near future. Nonetheless, the fact that the purchase price is below Edify’s $36.8 million 2004 revenue stream shows that little or no premium can be attached to players that are essentially serving a niche in an already niche market.

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