Innoetics, a text-to-speech developer based on research at Athena, has been acquired by Samsung in the highest value exit of a Greek spinout in decades.
Innoetics, a Greece-based text-to-speech spinout out from the Institute of Language and Speech Processing at Athena Research Centre, has been acquired by consumer electronics manufacturer Samsung in the largest exit for a Greek spinout in decades.
Financial terms were not disclosed, with the deal’s reported value ranging from less than €40m ($43m), according to TechCrunch, to nearly €50m, according to the International New York Times, which interviewed chief executive Aimilios Chalamandaris.
In any case, the acquisition will not make institutional…
