iVoice enters into LOI to sell intellectual property to a biometric company.iVoice, Inc., a provider of speech recognition technology, has announced that it has entered into a letter of intent to sell its speech engine, source code and assorted technology-related patents to NGM See NetWare Global Messaging. TEC, Inc., a provider of identity verification Noun 1. identity verification - the automatic identification of living individuals by using their physiological and behavioral characteristics; "negative identification can only be accomplished through biometric identification"; "if a pin or password is lost or solutions and other biometric software products. The transaction, which is subject to the completion of favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , the signing of a definitive agreement and customary closing conditions, is expected to close this month. The total purchase price for the intellectual property being acquired equals $6.25 million, payable in a combination of cash, debt and stock. www.ivoice.com www.ngmtec.com |
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