Voxware, supplier of software for voice-driven warehousing operations, announced that it has completed the process of becoming a private company. The move follows a decision by Cross Atlantic Partners, one of the company’s major shareholders, to make a further investment in Voxware in support of its strategic plan, in conjunction with a going-private transaction.
“This is a watershed event for us,” said Scott Yetter, Voxware CEO. “The burden and cost of public company compliance keeps rising every year. As a private company, we now have greater operational flexibility and can focus more on long-term growth without undue emphasis on short-term earnings and fluctuations in the price of our stock. Building new software products is the best use of company resources that will maximize benefit to our customers, employees, and shareholders.”