AppTek Sells Its Machine Translation Tech to eBay
Applications Technology (AppTek), has sold its machine translation technology to eBay. The terms of the transaction were not disclosed.
AppTek provides natural language processing (NLP) technology, including automatic speech recognition and machine translation technology, to both government and commercial clients. AppTek's Hybrid Machine Translation engine fuses rule-based and statistical-based engines.
According to research firm Markets and Markets, the NLP market, which also includes interactive voice response, speech analytics, 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.
"The explosion of multi-lingual content and commerce has dramatically expanded the application of AppTek's leading-edge technology," said Brian Keane, co-founder and managing director at Seabrook Partners, which advised AppTek during the sale, in a statement. "The rapid evolution and globalization of the media landscape has driven large technology companies to complement internal IP development with innovative technology developed by firms such as AppTek."
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