Voice activated products are very big at the New York computer show as announced on CNBC. This news for ACNTF and LHSPF should be moving the stock as well.
Lernout & Hauspie Enters Strategic Partnership With
Language Information Technology Developer Accent
Software International
Business Wire - June 09, 1998 16:16
BURLINGTON, Mass. and COLORADO SPRINGS, Co.--(BUSINESS WIRE)-- June 9,
1998--
Alliance Will Leverage Combined Offering of Linguistic Expertise, Localization Software,
Translation Technologies and Services to Stake a Strong Position in the Growing Localization
Market
Lernout & Hauspie Speech Products (L&H) (Nasdaq:LHSPF) (Easdaq:LHSP.ED)
worldwide market leader in speech and linguistic technologies, products and services,
announced today that it has invested $4 million in preferred stock and warrants in language
information technology leader, Accent Software International (Nasdaq: ACNTF, ACNUF).
The investment, representing 24.5% of Accent's outstanding shares, will further the company's
development of its localization and globalization software development tools and services. The
agreement, considered a strategic, long-term partnership by both companies, will allow L&H
and Accent to offer a complete solution of products and services for companies seeking to
leverage information technology in the international marketplace.
As part of the agreement, L&H will gain a seat on Accent's board of directors to ensure a
smooth integration of business strategy and product development plans. The investment,
coupled with Accent's recent restructuring, is expected to enable Accent to better achieve its
financial goals and allow the company to grow in L&H's strategic direction.
"Accent's localization and globalization software tools will enhance our human translation
services nicely and complement our own efforts in L&H's Language Technologies Division,"
said Gaston Bastiaens, president and CEO of Lernout & Hauspie. "We expect Accent's
advanced software will make our linguistic specialists more competitive and will strengthen our
product offerings. This agreement is a win for all parties involved."
"Our tools and applications, combined with L&H's translation services and linguistic expertise,
represents the most comprehensive package of multilingual technologies available to users and
developers," said Todd Oseth, President and CEO of Accent Software International. "As
international markets continue to expand, the demand for non-English products and
information will rapidly increase. Companies are going to require sophisticated localization
tools to reach new audiences via the Internet and traditional market channels. Our combined
offerings will help companies overcome these language barriers."
"I invested in Accent Software because of its technology team, not just its technology," stated
Esther Dyson, director of Accent and Chairman of EDventure Holdings. "Now I am really
excited to see them leveraged by L&H's worldwide presence, technology, and marketing and
sales expertise. It's a very promising combination."
Multilingual Development Tools for Localization
Accent develops language information technology products for many different media, including
software applications, e-mail and web authoring. Its Global Development Kit (GDK) ties
multilingual technologies together into an offering for developers that allows software products
to be globalized with different language interfaces. The GDK product entails a custom
application programming interface (API) and a globalization tools suite. Accent's latest
offering, Loc@le, is an integrated suite of management and administration tools enabling the
rapid localization of software. Accent plans to enhance this suite of offerings with new
products and technologies that add multilingual products to additional English-based software
offerings. In addition, Accent offers consultation services for companies that are
uncomfortable dealing with multilingual user interfaces.
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