Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and video games in particular. You can reach him on Twitter, circle him on Google+ and connect with him on LinkedIn.
Billionaire, entrepreneur, sports and technology mogul Mark Cuban has just added another company, LinguaSys, to his ever-increasing portfolio of projects.
The technology firm announced today that Cuban has “acquired a significant position in the company”, although exactly what his role will be and how much money has changed hands is currently unclear.
LinguaSys specializes in products and services that help international businesses to better understand different languages from across the globe. In particular, it offers clients highly customized ‘big data’ solutions that feature text analytics, accurate translations and user interface software.
One of its most popular and innovative products, according to LinguaSys anyway, is its proprietary and patent-pending engine Carabao.
In a press release published today, the company said:
“Once Carabao discerns the meaning of content, it provides natural language understanding, text analysis or translates the meaning into other languages.
LinguaSys delivers automatic domain detection resulting in improved fidelity, sentiment at the sentence level, collections of synonym-based word families and the addition and deployment of new languages and lexicons faster and more easily than competitors.
LinguaSys creates new value for large enterprises and governments seeking meaningful data in multiple languages in social networks and big data stores.”
Cuban owns former NBA world champions, the Dallas Mavericks, as well as Landmark Theatres and Magnolia Pictures. Most recently we’ve seen the investor lead a funding round for Little Bird, the rebranded Plexus Engine from Marshall Kirkpatric and social gaming company called Mention Mobile. Oh, and he’s also an investor in the well-loved Vringo.
The entrepreneur said he thought that LinguaSys was “transforming” the way in which businesses and governments could understand content originally created in other languages, and then use it to their advantage when conducting business on the global stage.
LinguaSys, meanwhile, says Cuban’s support will be used to accelerate the creation of new “innovative solutions” that can be tailored towards either consumers, enterprises or governments.
Brian Garr, CEO of LinguaSys, said: “We’re confident our partnership with Mark Cuban will create even more opportunities and open new avenues for growth.”
Image Credit: Justin Sullivan/Getty Images
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