LWNTF NEWS!
February 08, 2000 14:33
LanguageWare.net Announces New Board Chairman And Other Changes to the Board of Directors
COLORADO SPRINGS, Colo., Feb. 8 /PRNewswire/ -- LanguageWare.net (company) Ltd. (OTC Bulletin Board: LWNTF, LWNUF), a leading provider of technology that enables global business over the Internet, announces that Fred Snow, a partner with Singapore-based venture capital fund TDF Management, has been nominated as board chairman. This nomination and other board of directors changes are a result of LanguageWare.net's recent acquisition of Star+Globe
Technologies Pte. Ltd., a privately-held Singapore company with proprietary Asian character processing technology for the Web.
Snow has held top management positions in high technology companies operating in the USA, Europe, Asia and Latin America for the past 30 years. Most recently he served as executive vice president of worldwide operations for Adobe Systems Inc. Prior to his work with Adobe Systems, Snow served as president and CEO for Vector Graphic Inc. and TransImage Corporation. He also has worked as vice
president of western operations for Businessland and senior vice president with Tech Data Corporation.
LanguageWare.net also has selected Thomas Denys, partner and managing director of Lernout & Hauspie Investment Company N.V. (LHIC) and Jonathon Thomas, president of Denver-based Vulcan Investments, Inc., to serve on the board of directors.
Denys has been a partner and managing director of LHIC since its incorporation and was formerly senior associate at Loeff Claeys Verbeke, a Benelux-based law firm, where he was active in developing the company's business and finance
department. LHIC, LanguageWare.net's single largest shareholder, is an investment vehicle of Lernout & Hauspie Speech Products N.V. (L&H) (Nasdaq: LHSP), a worldwide leader in speech and linguistic technologies, products and
services.
Thomas is president of Vulcan Investments, which is a Registered Investment Advisor. His expertise is to identify direct equity investment alternatives for high,net worth individuals and institutions across the world. Thomas works with other financially sophisticated families who posses high-level business contacts and strategic skill sets. This results in the provision of unique and exclusive
wealth-building opportunities. Vulcan Investments is LanguageWare.net's third largest shareholder.
"We have sought after, and have found, new board members that bring with them a wealth of international experience and expertise," said Todd Oseth, president and CEO of LanguageWare.net. "We expect our new board members to play pivotal roles in helping the company successfully implement its e-business strategies worldwide."
Noted Internet expert and consultant Esther Dyson remains a member of the LanguageWare.net board of directors. Dyson is chairman of EDventure Holdings, a diversified company focused on emerging information technology worldwide. Dyson
also chairs the Internet Corporation for Assigned Names and Numbers (ICANN) and is a member of the President's Export Council Subcommittee on Encryption.
Francis Vanderhoydonck, president and managing director of LHIC since its inception, also remains a board member. Prior to joining LHIC, Vanderhoydonck was head of corporate and investment banking at Belgium's largest bank, Generale
Bank.
Todd Oseth, president and CEO of LanguageWare.net, remains on the board.
Oseth joined the company in 1997 and previously served as vice president of business development of Sony Information Technologies of America and as president of Enhanced Memory Systems Inc., a subsidiary of Ramtron International
Corporation.
Resigning members of the LanguageWare.net board of directors are Robert Kutnik, former senior vice president for strategic development and chief technology officer
for L&H, and Chantal Mestdagh, chief financial officer of LHIC.
In conjunction with the acquisition, LanguageWare.net also created a wholly-owned, U.S. subsidiary, WholeTree.com, which was formed to bring the technology of Star+Globe and LanguageWare.net together. WholeTree.com enables global business over the Internet and brings special expertise that fosters commerce between U.S. and Asian markets.
About LanguageWare.net
LanguageWare.net (Company) Ltd., founded in 1988, enables companies to build comprehensive global e-business platforms on the Internet by using its proprietary technology to break linguistic, cultural and economic barriers. The company
provides the Internet industry with strategic solutions designed to help businesses, their customers, vendors, suppliers and employees around the world communicate
with each other in their native languages. For additional information visit the company's Web site at languageware.net.
This press release contains historical information and forward-looking statements.
Statements looking forward in time are included pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995. Such statements
involve known and unknown risks and the Company's actual results in future
periods may be materially different from any future performance suggested herein.
SOURCE LanguageWare.net Ltd.
/CONTACT: media, Kelli Lesh of Clarus Public Relations, 303-296-0343,
ext. 248, klesh@claruspr.com, for LanguageWare.net; or Deborah Park, Corporate
Communications of LanguageWare.net, 719-955-3400, ext. 3405, debp@lware.net/
/Web site: languageware.net
(LWNTF LWNUF LHSP) |
