Proving the Business Case for the Internet of Things

Facebook buys voice-recognition firm

January 7, 2015
Facebook has acquired a company that makes voice recognition technology for wearable devices and internet-connected appliances, the latest sign of its ambition to extend its reach beyond computers and smartphones.
Facebook said it acquired this week, without providing a price for the deal. The 18-month old company, based in Palo Alto, California, makes software that can understand spoken words as well as written text phrased in natural language.
A Facebook representative declined to provide details on how Facebook planned to use the technology or with which group within Facebook the team would work.
The deal comes as technology companies are racing to bring internet connectivity to a new crop of devices, from watches to washing machines. Voice recognition, the technology that helps power services such as Apple’s Siri, is considered a key building block for the new devices to earn mainstream consumer appeal.
Facebook, the world's largest internet social network, with 1.3 billion users, is increasingly looking beyond the PCs, tablets and smartphones currently used to access its service. In March, it acquired virtual reality headset maker Oculus VR for $2bn.
The deal for is likely to have been significantly smaller. announced in October that it had raised $3m in a funding round led by venture capital firm Andreessen Horowitz.