SpeechWorks International, Inc. (Nasdaq: SPWX) gained 4 1/16 to 60 13/16 Tuesday, after the company said that Internet powerhouse Yahoo! (Nasdaq: YHOO) will use its technology to convert e-mail messages into speech for a new Internet phone service.
“Our selection by Yahoo! demonstrates the momentum SpeechWorks is building as major Internet companies realize the need to complement their services with high-quality, phone-based speech solutions,” said SpeechWorks chief executive officer Stuart R. Patterson. The deal, he said, exposes millions of people to the company’s Speechify text-to-speech engine.
Yahoo! also announced an alliance with Net2Phone on Tuesday. The new service will allow users to access e-mail, news and other information by telephone, as well as make free calls from personal computers to phones. Net2Phone also gained on news of the Yahoo! deal, rising 3 3/64 to 24 11/16.