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

By Benzinga
Benzinga
Benzinga
December 23, 2021 Updated: December 23, 2021

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 

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