The CMG is closing in on acquiring Signal Financial, the company that built the world’s most popular mobile sign language app for a fraction of the price.
The company announced Monday it has signed a deal to acquire Signal Financial.
Signal Financial CEO and co-founder John E. Toth announced the news during a conference call with investors.
Signals CEO and founder Andrew P. Coker says that the acquisition will create the company with “great capabilities and a strong team.”
Signals plans to use the $5 billion acquisition to create an “accelerator” for its sign language products.
“The company will be positioned as a new player in the global market for sign language technology,” Coker said.
“We will create a company focused on sign language and mobile sign communication with a strong product pipeline.”CMG is already in talks to acquire the company.
CMG’s parent company, Signal Ventures, acquired the company from the startup earlier this year.CMG’s new acquisition of Signal will also help it build a better sign language platform for mobile apps.
CMg announced in August that it has built a sign language SDK that is “on par” with Signal’s SDK for Android and iOS, and it plans to add sign language functionality to CMG apps and games as well.
Signals has over a million active users on the App Store and Google Play, and the app has been downloaded over 40 million times.
CMGs own app, Signal Signals, has been around since 2012 and offers “an intuitive, easy to use sign language solution for businesses and individuals across the globe.”