View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
August 3, 1997updated 03 Sep 2016 12:07pm

LERNOUT & HAUSPIE PLUNGES INTO RED AFTER ACQUISITIONS

By CBR Staff Writer

Lernout & Hauspie Speech Products NV says the second half of its financial year will see it concentrating on consolidating and integrating the three companies it has recently acquired which resulted in the speech-to-text operation reporting net losses for its second quarter of $51m. The figure takes into account the $55m that the Ypres, Belgium company paid for Kurzweil Applied Intelligence Inc (CI No 3,141), GMS Gesellshcaftfuer Multilinguale system GmbH (CI No 3,170) and Centigram Communication Corp’s True Voice business (CI No 3,193). Following the acquisitions Lernout & Hauspie believes it is in a very strong position to enter into the dynamic continuous dictation market. Revenue for the first six months of the year increased by 262.1% to $37.7m and the company brought more money in by reducing its sales days outstanding to 61 from 67 days.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU