The Latest News

This section is updated almost daily with the most current industry-related press releases we receive.

Lernout & Hauspie acquires Mendez

The Belgian speech communication company Lernout & Hauspie Speech Products has acquired a 100% stake in the Brussels-based Mendez Translations, one of Europe's largest translation companies. Mendez will remain an independent entity within the Lernout & Hauspie group.

Lernout & Hauspie specializes in the development and licensing of natural language processing tools such as text-to-speech, automatic speech recognition and digitized speech compression systems. Mendez has fully owned and integrated subsidiaries in Germany, France and Spain. It will also shortly be opening in Italy. The company employs some 140 people on a full-time basis, including 70 linguists, 15 software engineers and 12 multimedia specialists. It also has a network of some 800 freelance translators.

Past news for Lernout & Hauspie Speech Products N.V.

L&H Speech Products signs agreements

Lernout & Hauspie Speech Products N.V., a provider of speech and language technology, products and services, announced that its Speech and Language Technologies Division (SLT) has signed several new agreements with distributors and resellers serving Australia, New Zealand, Singapore, Latin America and the UK. Combined with previously announced distribution and reseller agreements for the US, Canada, Continental Europe and Asia, these new agreements ensure virtual worldwide availability of L&H's packaged software products and software solutions for the corporate, VAR and vertical markets.

L&H has entered a republisher agreement for Australia with Sydney-based Marketing Results Pty. Limited, a wholesale distributor specializing in innovative ”first-to-market” software, hardware and networking products for the retail and reseller marketplaces; Auckland-based Roadshow Entertainment Ltd., a New Zealand distributor of interactive software; and Mexico-based Telematica y Sistemas Avanzados S.A. de C.V. (Telsa), a business development company serving IT and software companies as well as e-commerce publishers.

L&H signs agreement with The Learning Company

Lernout & Hauspie Speech Products N.V., a provider of speech and language technology, products and services, announced that its Speech and Language Solutions Group has entered into a marketing and distribution agreement for the North American market with The Learning Company, a global developer and publisher of consumer software. The agreement was approved by the US Bankruptcy Court for the District of Delaware in connection with L&H's bankruptcy case.

Under the terms of the agreement, The Learning Company will be the sole distributor, within the United States and Canada, of L&H Voice Xpress and Dragon Naturally Speaking consumer product lines with respect to retail, on-line and direct-to-consumer distribution channels. L&H is currently the leader in the $35 million US retail speech recognition software category with over 70% market share (for the twelve months ending March 31, 2001), according to NPD INTELECT, an independent market research provider. The Learning Company will market, manufacture and distribute current and future versions of L&H Voice Xpress and Dragon Naturally Speaking.

L&H announces deadline for claims in bankruptcy proceedings

Lernout & Hauspie Speech Products N.V., Dictaphone Corporation and L&H Holdings USA, Inc. (collectively, the ”L&H Group”) advised that, pursuant to an order of the US Bankruptcy Court dated April 18, 2001, creditors and parties-in-interest who wish to assert a claim deemed to have arisen prior to November 29, 2000, in the chapter 11 bankruptcy cases of the L&H Group currently pending must file a proof of claim on or before June 11, 2001.

A copy of the proof of claim form, along with detailed instructions and an explanation of the filing deadline, can be obtained by calling Donlin Recano & Company, Inc. at 212-481-1411.

L&H Korea files petition for bankruptcy protection

Lernout & Hauspie Speech Products NV, a provider of speech and language technology products and services, announced that its wholly-owned subsidiary L&H Korea Co., Ltd. (LHK, formerly Bumil Information and Communication) has voluntarily filed a petition for bankruptcy protection under the Bankruptcy Act of Korea.

Concurrently, L&H and LHK filed with the Seoul Prosecutors Office a criminal complaint against Ju Chul Seo (also known as John Seo), the former president of LHK, and several previous employees of LHK, as well as current and former employees of several Korean banks. The company believes that certain actions by Seo amount to criminal fraud and breach of trust in office, among other criminal activities.

L&H granted $60 million DIP financing

Lernout & Hauspie Speech Products NV, a provider of speech and language products and services, announced that the US Bankruptcy Court for the District of Delaware granted final approval of a 13-month $60 million Debtor in Possession (DIP) financing facility to be provided to L&H and its affiliates, including Dictaphone Corp. and L&H Holdings USA, Inc. (formerly Dragon Systems). Approximately $10 million of this will be used to fully repay GE Capital for the funds utilized under the company's prior DIP financing agreement.

Philippe Bodson, L&H's president and CEO, said, ”This new financing facility represents another important milestone in our restructuring effort and will help L&H and its affiliates to continue meeting their operating requirements for the foreseeable future.”

L&H's products and services originate in four basic areas: automatic speech recognition, text-to-speech, digital speech and music compression and translation.

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