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Cerence Stock Gains on Signing $149 Million Contract With European Automaker

December 24th, 2021 Awake Goy
A man looks at a stock market chart in Irvine, Calif., on April 9, 2021. (John Fredricks/The Epoch Times)

A man looks at a stock market chart in Irvine, Calif., on April 9, 2021. (John Fredricks/The Epoch Times)

Cerence Inc. forged a contract worth $149 million with a sizeable European automaker for its connected, conversational AI automotive assistant products.

“This milestone deal marks another important moment for Cerence as we accelerate growth and sustain momentum with automotive customers,” said CEO Stefan Ortmanns.

Cerence develops mobility-based solutions for drivers and their cars. It generates revenue by selling software licenses and cloud-connected services.

Cerence’s customers include major automotive original equipment manufacturers or tier 1 suppliers.

By Anusuya Lahiri 

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.


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