View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 16, 1997updated 05 Sep 2016 1:03pm

SPEECH RECOGNITION: LERNOUT & HAUSPIE TO ACQUIRE KURZWEIL

By CBR Staff Writer

Companies that suffer a major financial set-back – in the case of Kurzweil Applied Intelligence Inc, it was fraudulent inflating of quarterly reports – seldom get back into their stride, no matter how sound the fundamental business and product line. Now Belgian firm Lernout & Hauspie Speech Products NV of Ypres has a definitive agreement to buy Kurzweil for about $53m. After the acquisition, Lernout will work with Kurzweil to develop the Holy Grail of speech recognition – a large vocabulary speaker- independent continuous dictation engine. It believes the joint- effort will help accelerate the introduction of continuous speech dictation products by about six months. Lernout will be paying 80% in cash, 20% in newly-issued Lernout shares. The company is also in talks with the Dictation Consortium, a Flanders Language Valley Foundation investment dedicated to automatic speech recognition, for it to participate in the acquisition, paying Lernout up to $26m from income from 1998 products.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. 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.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED
THANK YOU