Cerence Stock Gains On Signing $149M Contract With European Automaker

December 23, 2021 11:39 AM | 1 min read | Make a Comment

Cerence Inc CRNC 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.
Price Action: CRNC shares traded higher by 7.10% at $77.37 on the last check Thursday.

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