Activist investor Carl Icahn has secured two seats on the board of Burlington speech recognition giant Nuance Communication Inc., maker of Dragon NaturallySpeaking.
The development was disclosed Tuesday in a filing with the Securities and Exchange Commission that revealed Icahn was given the seats in exchange for agreeing not to stand in the way of selecting company directors or obtain more than a 20 percent stake in the company before its 2014 annual meeting.
Icahn has acquired 16.7 percent of Nuance and will place his son Brett Icahn and David Schechter, a senior analyst at his investment firm, on the board.
Icahn first obtained a major stake in Nuance in April.
The billionaire investor was previously involved in a battle for control of Weston-based biotechnology company Biogen Idec Inc. and he fought to buy computer-maker Dell Inc.
Regarding the Nuance board seats, Icahn announced the appointments on Twitter.
“Happy to have reached an agreement with Nuance Communications where Dave Schechter and Brett Icahn will join the board of directors,” he wrote.
In a second tweet on Tuesday, he referenced Nuance’s stock symbol, NUAN, when he wrote, “I’m optimistic their impact at NUAN will be similar to HAIN, where stock went from $20.20 to $79.56 over the 3 years they sat on the board.”
He’s referring to the natural foods company Hain Celestial Group.Michael B. Farrell can be reached at firstname.lastname@example.org.
Correction: An earlier version this story incorrectly identified David Schechter.