ADT Automotive Deploys Voxware's Mobile Voice Pac -MVP-.PRINCETON, N.J.--(BUSINESS WIRE)--June 17, 1999-- Nation's Second Largest Auto Auction Company Uses Speech Recognition to Speed Electronic Condition Reporting Voxware, Inc. (Nasdaq: VOXW), a leading developer of speech recognition-based products for industrial markets, announced today that ADT (Asynchronous Data Transfer) A transmission technique used in ISDN PBXs that dynamically allocates bandwidth. See also abstract data type. ADT - abstract data type Automotive has successfully deployed Voxware's Mobile Voice Pak (MVP (Multimedia Video Processor) A high-speed DSP chip from Texas Instruments, introduced in 1994. Officially introduced as the TMS320C80, it combines RISC technology with the functionality of four DSPs on one chip. ) at a number of its 28 automobile auction centers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Voxware MVP features field-proven speech recognition technology that was designed specifically to function with very high accuracy in loud, industrial environments. ADT Automotive is the second largest vehicle auction company in the United States, and offered 2.1 million vehicles for sale in 1998. Before these cars are presented for auction, ADT personnel must formally receive and thoroughly inspect the cars as they are placed into ADT inventory. This high-paced process has been enhanced by the use of Voxware's MVP, where hands-free operation allows ADT personnel to enter information faster and more easily, with increased efficiency and greater accuracy. Information reaches ADT's customers on a more timely basis, and data captured electronically can be easily stored and transferred via fax or email. "The Voxware MVP has allowed ADT Automotive, Inc. to standardize and automate the collection of data needed to report the condition of vehicles consigned to our auctions," said Bob Cherry Bob Cherry is a fiction writer and poet. His works have received many awards and honors, including the 1999 Horizon Award for his first novel, Spirit of the Raven: An Alaskan Novel. , ADT's Senior Manager of Operations & Auction Applications Information Services Department The Information Services Department (ISD) (Traditional Chinese: 政府新聞處; Simplified Chinese: 政府新闻处 . "Once the information is recorded using the MVP, it can then be used to report electronically to our customer, provide information to our web site or describe cars that are for sale electronically. Our people are very pleased with the performance and recognition qualities of the MVP." The application software was developed, and the systems integration was performed by Lucas Systems, Inc. (www.lucasware.com), a Voxware systems integrator based in Pittsburgh, PA. The system uses the Voxware MVP, a belt-worn, rugged, fully mobile product that enables industrial workers to interact with tracking systems using voice commands. The MVP is specifically designed for industrial workers who need to input and receive information while their hands and eyes are busy, and when mobility is important. "ADT is committed to setting new standards in their industry for quality, consistency, and overall customer service," said Rick Brown, Lucas Systems, Inc. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Working closely with ADT Operations personnel enabled us to help them establish a new standard with Electronic Condition Reports. The MVP's industry leading speech recognition accuracy and speed were essential to the successful implementation of this application." Based in Nashville, Tenn., ADT Automotive, Inc., is a vehicle auction and logistics company with 7200 full and part time employees at its 28 U.S. wholesale auto auctions, which auctioned 2.1 million vehicles in 1998. Its web site is at www.adtauto.com. ADT Automotive is a Tyco International For the unrelated division of Mattel, see . Tyco International Ltd. NYSE: TYC is a diversified manufacturing conglomerate incorporated in Bermuda, with United States operational headquarters in New Jersey. Ltd. Company, a diversified manufacturing, and service conglomerate with annual revenues of more than $22 billion. About Voxware, Inc. Voxware (Nasdaq: VOXW) is a leading developer of speech recognition-based products for industrial markets, and also provides speech compression Encoding digital speech to take up less storage space and transmission bandwidth. The PCM, ADPCM, CELP and LD-CELP methods are commonly used for speech compression. See speech codec and data compression. technology to the multimedia and consumer devices markets. Voxware was founded in 1993. In February 1999, it acquired substantially all the assets of Verbex Voice Systems, a leading provider of speech recognition products to industrial markets. Voxware's corporate headquarters are in Princeton, New Jersey
Princeton, New Jersey is located in Mercer County, New Jersey, United States. Princeton University has been sited in the town since 1756. , with regional offices in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Salt Lake City, Atlanta, Boston, and the United Kingdom. Additional information about Voxware can be obtained on the Internet at http://www.voxware.com, or by calling (609) 514-4100. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such statements are subject to certain factors which may cause Voxware's plans to differ or results to vary from those expected including the risks associated with Voxware's lack of operating history and experience in operating Verbex's business; Voxware's need to introduce new and enhanced products in order to increase market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and the risk of obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. of its products due to technological change; Voxware's need to attract and retain key management and other personnel with experience in Verbex's business; Voxware's dependence on the Mobile Voice Pac ("MVP") product family; the potential for substantial fluctuations in Voxware's results of operations; competition from others; Voxware's evolving distribution strategy and dependence on its distribution channels; the potential that speech products will not be widely accepted; Voxware's need for additional capital; and a variety of risks set forth from time to time in Voxware's filings with the Securities and Exchange Commission. Voxware undertakes no obligation to publicly release results of any of these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unexpected results. Voxware is a registered trademark of Voxware, Inc. All other product names are trademarks of their respective owners. |
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