SpinVox's shareholders receive £600 (in total) from Nuance acquisition

Heh.

Oh dear.

Rory Cellan-Jones over at the BBC has posted a very insightful story on the Nuance acquisition of SpinVox:

A couple of weeks ago, the American speech-recognition firm Nuance paid $102.5m – around £64m – for the British voice-to-text firm Spinvox, and we speculated that most of the investors would get very little from the deal. Now I’ve found out just how little.

Laptop and phoneThe people who had poured in over £100m to a company which claimed that it had world-beating technology ended up with just £600. No, not £600 each – that was spread among the owners of 5.3 million ordinary shares and 1.9 million A shares.

Deary me.