According to Bloomberg: Jim and Janet Baker, pioneers in the field of computer
speech recognition, turned to Goldman Sachs Group Inc. (GS) in late 1999 when
they needed investment bankers to advise them on the sale of Dragon Systems
Inc., the company they had spent 17 years building.
The Bakers, who started Dragon in their Boston-area home,
had seen it grow into a company with $68 million in sales, more than 350
employees and operations in the U.S., Germany, U.K, France and Japan. They
wanted to sell to a company that would let them continue to develop the
technology they had spent their professional and married lives creating.
“This was the most
important business decision of our lives,” Janet Baker said in an interview in
the couple’s home in West Newton, Massachusetts. “We chose Goldman because of
their global reach and their reputation as the world’s most important
investment bank…..”
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