Fonix Corp. (FNIX.OB) to Acquire 80% of Shanghai Gaozhi Software Systems
In a stock exchange agreement, Fonix, a speech technology software company providing speech recognition and text-to-speech technology interfaces for devices and systems, is purchasing a profitable Chinese software company GaozhiSoft, which provides Chinese mobile network service providers an operating platform and proprietary software. The addition of Fonix’s speech technology to the mobile software platform in the emerging Chinese market, where the Chinese character set is already a hindrance, is significant. Roger D. Dudley, Fonix president and CEO, stated, “This acquisition is a bold, strategic move for Fonix and its shareholders. Fonix and GaozhiSoft will provide advanced communications solutions enabling cellular…