Bigtincan Holdings Ltd’s (ASX:BTH) wholly-owned US subsidiary BTC Mobility LLC has acquired 100% of the issued capital of VoiceVibes Inc for US$2 million.
The company’s core sales enablement automation system, in combination with VoiceVibes’ patented technology, will allow Bigtincan to offer automated coaching and sales guidance.
VoiceVibes’ technology provides automated coaching that helps people sound more natural and polished when they speak, so they can transform how others perceive them.
US-based VoiceVibes is one of the most advanced audio analytics engines in the market, built by a team of speech, linguistic data science experts and PhDs and supported by the US Government funding programs to create the future of voice analytics for coaching and engagement analysis.
“Making the best impression”
Bigtincan co-founder and CEO David Keane said: “VoiceVibes’ AI-powered coaching platform helps professionals make the best impression, every time they speak.
“By adding the patented VoiceVibes technology, Bigtincan expands our lead in AI for sales enablement and helps our customers train their sellers faster.”
VoiceVibes’ proprietary data
The Maryland-based company’s proprietary data set is one of the largest in the world that can measure the human perception of voice and this is used to figure out how humans perceive emotion and intention from your voice.
An independent study by Towson University showed that VoiceVibes successfully predicted 11 vibes (ways a human would perceive a voice) with at least 97% accuracy, and all 20 vibes with at least 90% accuracy.
VoiceVibes’ CEO Debra Cancro, said: “This is an exciting time for VoiceVibes. Joining forces with Bigtincan at this stage enables us to accelerate the application of our patented AI technology and provide cutting-edge insights into sales coaching and training.”
Funding acquisition
Consideration for the acquisition is a combination of cash and equity, and the cash payment of US$1,261,600 was fully funded from Bigtincan’s existing cash reserves raised through the institutional placement conducted in December 2020.
The company plans to retain the VoiceVibes team and integrate VoiceVibes technology into existing Bigtincan offerings.
The acquisition is not expected to have a material impact on Bigtincan revenue or costs in FY21.
