Mobile solutions firm Zi Corp. renewed its license agreement with Nokia for a multi year period.
In a statement, the firm said the agreement provides for the deployment of Zi's eZiType and eZiText product offerings on Nokia's wireless phones and covers a full suite of languages.
The contract includes a significant initial payment to be paid after closing, and then quarterly installments from then on during the life of the contract.
'This is a banner day for our entire organization,' Milos Djokovic, president and CEO of Zi Corp., said.
The firm's products are featured on more than 1000 handset models and implemented across most technology platforms in the market today.
On 14 August, Nuance Communications of Massachusetts, offered to buy Zi Corp. for roughly US$40.4 million (â‚¬27.31 million), or 80 cents a share in cash. This equates to roughly a 150% premium over Zi Corp.'s closing share price of 32 cents the previous day.
Nuance's speech-based technology is used to provide automated customer care services, directory assistance and voice-activated commands on mobile devices, among other applications.The company also provides dictation and transcription solutions and services, as well as imaging solutions. Zi Corp declined the offer. on 25 August, Nuance filed a patent infringement lawsuit against Zi Corp.