Vocalis Ltd, the voice recording and speech recognition company formed in 1993 by a management buyout of Logica Plc’s Voice Systems Division, is going for a full listing on London’s Stock Exchange via a placing. Initially the UK- based company developed customized speech recognition software for automating telephone directory networks. But during the past 18 months, the company has been developing two standard speech recording products which will be targeted at high volume end of the market. Operetta is an automatic switchboard system. Callers telephone the system and are asked their name and who they want to speak to. The information is replayed to a receptionist who automatically diverts the call to the required line. The system can currently cope with up to 100 extensions, so will be aimed at small organizations or branches. The second offering, SpeechTell, is a speech-activated service targeted at fixed or mobile telephone operators. Vocalis plans to raise about 5m British pounds in a placing that would value the company at 25m pounds. Funds will be used to launch a high profile marketing campaign for the new products, and to provide working capital. Vocalis has explored the realms of speech recognition software for personal computers to a limited extent, and it is possible some type of system will be developed in the future. Stockbrokers Albert E Sharp will be handling the placing for Vocalis.
