Unbelievable: I would not have thought this in the least with all the crap going on @ L&H. But FWIW:
BRUSSELS, Jan 18 (Reuters) - DaimlerChrysler might be interested in buying parts of Belgium's Lernout & Hauspie (L&H) as it restructures itself under bankruptcy protection, an industry source said on Thursday.
The source said the German-American auto group's interest in the speech recognition technology developer's technology -- which lets drivers make phone calls or surf the Internet by giving voice commands -- was very tentative and might come to nothing.
Even if it were to make a deal with L&H, the purchase would be of very minor significance to DaimlerChrysler, given its size, according to the source who added that any deal would represent an opportunity purchase rather than a strategic move.
DaimlerChrysler declined to comment. "This is pure speculation and we are making no comment," a DaimlerChrysler spokeswoman said.
Officials at L&H also declined to comment. L&H, which is looking at selling its translation services business, a manufacturing plant in Florida, and other assets, has said it was talking with a number of parties interested in buying parts of its operations. In announcing details of its restructuring on January 8, former L&H Chief Executive John Duerden said the company intended to retain its technology for the automotive market. Duerden has since been replaced by Belgian business leader Philippe Bodson.
L&H, once a leader in its field, is struggling to survive after admitting that it misrepresented sales figures in 1998, 1999, and part of 2000. It not only faces a slew of shareholder lawsuits, but also two regulatory investigations. Its stock has been delisted from the U.S. Nasdaq market and suspended from trading on the pan-European Easdaq market. In addition, L&H is being sued by Visteon <VC.N>, the world's second largest auto components group, for allegedly violating terms of a joint venture to install its technology in vehicles.
((Brussels newsroom +32 2 287 6810, fax +32 2 230 7710, belgium.newsroom@reuters.com))
Thursday, 18 January 2001 17:05:17 |
