From the Manufacturer

Hatsune Miku is a singing synthesizer application with a female persona, developed by Crypton Future Media. It uses Yamaha Corporation's Vocaloid 2 synthesizing technology. The name of the character comes from a fusion of the Japanese for first (hatsu), sound (ne) and future (Miku, normally read as "mirai"), referring to her position as the first of Crypton's "Character Vocal Series".