AppTek Acquires The Omnifluent Human Language Technology Software And Business From Leidos
MCLEAN, Va., Nov. 5, 2013 /PRNewswire/ -- Applications Technology LLC ("AppTek") ( www.apptek.com), through its founders Mohammad Shihadah and Mudar Yaghi, today announced that it has acquired the Omnifluent Human Language Technology software and related business from Leidos, Inc. The intellectual property includes automated speech recognition and machine translation software tools that allow for bi-directional and uni-directional language pairs encompassing more than thirty languages and numerous dialects.
AppTek is a pioneer in automatic speech recognition and machine translation technology. It relies on a highly-skilled team of computational linguists and software engineers to develop and deploy its solutions. AppTek's innovative, Hybrid Machine Translation engine is a leading-edge breakthrough in language translation technology, fusing rule-based and statistical-based engines. Applications for the company's machine translation and speech recognition technology include: media monitoring, closed captioning, subtitling, mobile devices and telephony solutions. AppTek licenses its technology to both government and commercial clients.
According to research firm, Markets and Markets, the natural language processing sector, which includes interactive voice response, speech analytics, machine translation, and dictation technologies, will grow from $3.8 billion in 2013 to $9.9 billion in 2018, representing a compound annual growth rate of 21.1 percent. "Rapid evolution of the media landscape provides us the opportunity to expand our solution and services to international commercial clients," states Mudar Yaghi, co-CEO of AppTek.
Mohammad Shihadah, co-CEO of AppTek, further states, "The growth in video and social networking sites has greatly contributed to the amount of unstructured content on the Web. Our technology can leverage this unstructured data by optimizing lingual response systems."
Seabrook Partners LLC acted as financial advisor to AppTek, while Bingham McCutchen LLP provided legal support.
About Applications Technology - AppTek
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts