• Thu. Dec 7th, 2023

Technology Consultant

Oh My Gods, It's a Technology Consultant

Form DEF 14A Cerence Inc. For: Feb 09


Jan 5, 2023 #14A, #Cerence, #DEF, #Feb, #form

drivers and passengers, and the broader digital world, creating an immersive companion that transforms the driving experience. We are a premier provider of
AI-powered assistants and innovations for connected and autonomous vehicles, including one of the world’s most popular software platforms for building automotive virtual assistants, such as “Hey
” and “Ni hao Banma”. Our customers include all major automobile original equipment manufacturers (“OEMs”), or their tier 1 suppliers worldwide, including BMW, Daimler, FCA Group, Ford, Geely, GM,
Renault-Nissan, SAIC, Toyota, Volkswagen Group, Aptiv, Bosch, Continental, DENSO TEN, NIO, XPeng and Harman. We deliver our solutions on a white-label basis, enabling our customers to deliver customized virtual assistants with unique, branded
personalities and ultimately strengthening the bond between their brands and end users. Our vision is to enable a safer, more enjoyable journey for everyone.

Our platform utilizes industry-leading speech recognition, natural language understanding, speech signal enhancement, text-to-speech, and acoustic modeling technology to provide a conversational AI-based solution. In-car experiences built with
our platform can enable a wide variety of modes of human-vehicle interaction, including speech, touch, handwriting, gaze tracking and gesture recognition, and can support the integration of third-party virtual assistants into the in-vehicle experience.

Our software platform is a market leader for building integrated, branded and
differentiated virtual assistants for automobiles. As a unified platform and common interface for automotive cognitive assistance, our software platform provides OEMs and suppliers with an important control point with respect to the mobility
experience and their brand value. Our platform is fully customizable and designed to support our customers in creating their own ecosystem in the automobile and transforming the vehicle into a hub for numerous connected devices and services. Virtual
assistants built with our software platform can address user requests across a wide variety of categories, such as navigation, control, media, communication and tools. Our software platform is comprised of edge computing and cloud-connected software
components and a software framework linking these components together under a common programming interface. We implement our software platform for our customers through our professional services organization, which works with OEMs and suppliers to
optimize our software for the requirements, configurations and acoustic characteristics of specific vehicle models.

Our solutions have been
installed in more than 450 million automobiles to date, including over 40 million new vehicles in fiscal 2022 alone. Based on royalty reports provided by our customers and third-party reports of total vehicle production worldwide, we
estimate that approximately 51% of all cars shipped during the fiscal year ended September 30, 2022 included Cerence technologies. Cerence hybrid solutions shipped on approximately 8.0 million vehicles during the fiscal year ended
September 30, 2022. In aggregate, over 80 OEMs and Tier 1 suppliers worldwide use our solutions, covering over 70 languages and dialects, including English, German, Spanish, French, Mandarin, Cantonese, Japanese and Hindi.

Since October 1, 2019, we have been an independent publicly-traded company on The Nasdaq Global Select Market under the symbol “CRNC,”
after our former parent company, Nuance Communications, Inc. (“Nuance”), completed the legal and structural separation and distribution to its shareholders of all of our then outstanding shares (the “Spin Off”).

Recent Event Highlights

Fiscal year 2022 held many
accomplishments across Cerence as we work to transform the mobility experience. We secured important customer wins globally, including a win-back from big tech and critical wins with Chinese automakers who are
driving innovation across the industry. Among our existing customers, nearly 150 car models worldwide went to production with Cerence technology, furthering the prevalence of our solutions in the market. We also continued our cadence of meaningful
innovation driving the future of mobility, with the introduction of several products like Cerence Exterior Vehicle Communication, which enables drivers to interact with their vehicles from the outside; in-car
productivity tools in collaboration with Microsoft; Cerence Sing, our in-car karaoke product; and, earlier in the year, Cerence Co-Pilot, the foundation for our
immersive companion experience.

In fiscal year 2022, we spent significant time building our long-term growth strategy, Destination Next. We
unveiled this strategy on November 29, 2022 at our Investor Day where we hosted analysts and investors. During this event we




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