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Nortel Networks, SpeechWorks to Jointly Offer Speech-Activated Applications
Posted by WDN, October 11, 2001
Financial, Telecommunications, Healthcare, Travel, Insurance Industries Expected to Benefit
Nortel Networks (NYSE:NT)(TSE:NT) and SpeechWorks International, Inc. (Nasdaq:SPWX) are working together to deliver
industry-leading speech applications to enterprise and carrier customers around the world.
Under an agreement announced today, Nortel Networks and SpeechWorks intend to combine the benefits of Nortel Networks OSCAR
(Open Signal Computing and Analysis Resource) IVR (interactive voice response), an advanced speech-processing platform, with
OpenSpeech Recognizer, SpeechWorks next generation speech recognition engine optimized for VoiceXML environments.
By combining Nortel Networks speech technology deployment experience with SpeechWorks user interface expertise and award-winning
speech solutions, the companies expect to deliver a joint solution capable of providing fast, reliable and user-friendly natural language speech
applications for order fulfillment, flight information, banking transactions and other services.
This solution, scheduled to be available in the first quarter of 2002, is expected to offer benefits to the financial, telecommunications,
healthcare, travel and insurance industries.
"Nortel Networks has successfully deployed speech solutions all over the world with our existing strategic allies," said Barry O'Sullivan,
vice president, Portal Solutions, Nortel Networks. "Our customers' callers are able to check stock quotes, listen to e-mail, transfer funds or
obtain insurance quotes, just by using their voice."
"SpeechWorks' proven expertise in speech interfaces and the benefits of the OpenSpeech Recognizer provide an ideal complement to our
OSCAR platform," O'Sullivan said. "This relationship will position us to provide our customers with a choice of the very best in
speech-activated technologies and services, including VoiceXML optimized speech solutions."
OpenSpeech Recognizer from SpeechWorks is an open, standards-based recognition engine -- optimized for VoiceXML -- that delivers
scalability, performance and accuracy in wireless environments. OpenSpeech Recognizer has an open architecture, which will facilitate
integration with Nortel Networks OSCAR IVR platform.
"Nortel Networks is a recognized leader in global communications solutions with a major presence in telecommunications and international
markets," said Stuart R. Patterson, chief executive officer, SpeechWorks. "This agreement with Nortel Networks will help SpeechWorks to
extend the benefits of OpenSpeech Recognizer into international markets, while offering Nortel Networks customers the added value of a
core speech technology optimized for open standards."
The voice services market is expected to grow to US$41 billion by 2005, according to the Kelsey Group.
Through the power of SpeechWorks(R) technologies, the human voice is all a caller needs to access instant information and conduct
transactions from any landline or wireless phone. Around the world, customer service innovators such as America Online, E-Plus and
Singapore Telecom are realizing returns on SpeechWorks applications that consistently delight and serve customers 24 hours a day. With
over 100 partners, SpeechWorks (Nasdaq:SPWX) delivers natural language speech recognition, speaker verification and text-to-speech
(TTS) solutions to leading corporations, telecommunications providers and government organizations worldwide. For a description of products,
services and unique customer programs such as the SpeechWorks Here Guarantee call 617/428-4444 or visit www.speechworks.com.
Nortel Networks is a global leader in networking and communications solutions and infrastructure for service providers and corporations.
The Company is at the forefront of transforming how the world communicates, exchanges information and profits from the high-performance
Internet through capabilities spanning Optical Long Haul Networks, Wireless Networks and Metro Networks. Nortel Networks does business
in more than 150 countries and can be found on the Web at www.nortelnetworks.com.
Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or
events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ
from current expectations include, among other things: the severity and duration of the industry adjustment; the sufficiency of our
restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the
estimated costs of such actions; fluctuations in operating results and general industry, economic and market conditions and growth rates; the
ability to recruit and retain qualified employees including at the most senior management levels; fluctuations in cash flow, the level of
outstanding debt and debt ratings; the ability to make acquisitions and/or integrate the operations and technologies of acquired businesses in an
effective manner; the impact of rapid technological and market change; the impact of price and product competition; international growth and
global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of
rationalization in the telecommunications industry; the dependence on new product development; the uncertainties of the Internet; the impact
of the credit risks of our customers and the impact of increased provision of customer financing and commitments; stock market volatility; the
entrance into an increased number of supply, turnkey, and outsourcing contracts which contain delivery, installation, and performance
provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; the ability to obtain timely, adequate
and reasonably priced component parts from suppliers and internal manufacturing capacity; the future success of our strategic alliances; and
the adverse resolution of litigation. For additional information with respect to certain of these and other factors, see the reports filed by Nortel
Networks Corporation and Nortel Networks Limited with the United States Securities and Exchange Commission. Unless otherwise required
by applicable securities laws, Nortel Networks Corporation and Nortel Networks Limited disclaim any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of Nortel Networks. SpeechWorks, OpenSpeech and
SpeechWorks Here are trademarks of SpeechWorks International, Inc.
CONTACT: Nortel Networks
Dana Hughens, 615/432-4636
dhughens@nortelnetworks.com
or
Fleishman Hillard
Will Hill, +44 207 395 7039
hillw@fleishman.com
or
SpeechWorks
Leah Lesser, 617/428-4444
leah.lesser@speechworks.com
or
Marie Ruzzo, 617/428-4444
marie.ruzzo@speechworks.com
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