> I don't think any of your example of shrunk companies going on anything like the acquisition spree that these tech giants have. IBM has a long history re acq

> I don't think any of your example of shrunk companies going on anything like the acquisition spree that these tech giants have. IBM has a long history re acquisitions[1]. Xerox hasn't done it quite as much, but they started as a photographic paper company (Haloid) and actually acquired their photocopying business (the Rectigraph Company). They've made many other acquisitions more recently[2], but of course on a scale that suits their budget. To the bigger point about the multi-billion dollar acquisitions that current tech giants do, those are a function of the massive cash piles the companies are sitting on and the low interest rate regime worldwide (which causes stock prices to go up). It's not like these "lock up" competition or anything. Indeed, by ending Nuance as an independent specialized voice to text company, there'll be more pressure now to fund alternative independent implementations. Google already has one that's nipping at Nuance's heels. You might see others fund a third effort now. [1] https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_IBM https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitio... [2] https://www.news.xerox.com/investors/acquisitions https://www.news.xerox.com/investors/acquisitions