South Side tech firm DynaVox Systems ready to go public
DynaVox Systems LLC of Pittsburgh's South Side has filed with the Securities and Exchange Commission to sell stock to the public.
Founded in 1983, the Carnegie Mellon University spinoff offered no initial offering price or sale date for the stock offering.
DynaVox develops and markets software, devices and content to assist people in overcoming speech, language or learning disabilities. The company refers to itself as an industry leader in speech-generating technologies and special education software.
More than 250 of the company's 370 employees are employed locally, according to the company.
During its last three fiscal years ended July 3, 2009, DynaVox has seen its sales jump 50 percent, to $91.2 million from $66.2 million, while its profit increased nearly 80 percent, to more than $8.8 million from $4.9 million during the fiscal year ended July 3, 2007.
Top executives at DynaVox include CEO Edward L. Donnelly Jr., President Michelle L. Heying, Chief Financial Officer Kenneth D. Misch, Chief Technology Officer Robert E. Cunningham, and Chief Vision Officer Richard Ellenson.
The filing also indicated that on Monday, DynaVox acquired all outstanding shares of Charlottesville, Va.-based Eye Response Technologies Inc.
Eye Response developed and distributes eye gaze and eye-tracking technologies to allow people with disabilities, using only their eyes, to interact with a computer and communicate.