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Technology Stocks : LHSP: Lernout En Hauspie -- Ignore unavailable to you. Want to Upgrade?

To: A.L. Reagan who wrote (2176)	5/12/2000 4:58:00 PM
From: jhg_in_kc	Read Replies (1) \| Respond to of 2467

no, there may be some fire behind this, I worry. Look what happened to CTXS just on the worry of "channel stuffing," which turned out to be overblown, stock went from 120 to 39. Once they confirmed the DSOs were going down this quarter, stock has jumped to mid-fifties in a week. BUt this Bastiens did something fishy but what I still cannot find out. It was in his previous CEO job; company had to restate earnings. SEC was involved, is all I know. ANYONE HAVE ANYTHING MORE?

To: A.L. Reagan who wrote (2176)	5/12/2000 10:48:00 PM
From: jhg_in_kc	Read Replies (1) \| Respond to of 2467

Lernout & Hauspie sees spining off Visteon venture May 12, 2000 02:57 PM By Gilles Castonguay IEPER, Belgium, May 12 (Reuters) - Belgian speech technology company Lernout & Hauspie LHSP plans to eventually sell shares in a joint venture formed with Ford Motor Co.'s F auto parts unit, Lernout's chief executive said on Friday. "We will definitely go to the public with it," Gaston Bastiaens told Reuters at a company function at its offices in the western Belgian town of Ieper. But Bastiaens said plans were preliminary, given how his company had only recently formed the venture with Visteon Corp. to deploy technology in cars that lets drivers surf the Internet by talking and listening to an onboard computer. "We must wait for the deal to close," he said. "We will leave it to the new management to decide on the details." The venture, which will get an initial $20 million investment from Visteon, is scheduled to begin operating with 50 employees by the middle of the year. Heinz Heumann, Lernout's director of product management, automotive Europe & Asia, said the venture's main challenge was to find and hire more skilled people and raise more money to develop its products to meet the expected demand. "All car makers feel they have to do something," he said, adding that manufacturers planned to eventually make such multimedia stations a standard feature in every model. Heumann said he expected the venture to come out with its first line of products in two or three years. He said the venture was interested in forming partnerships with Internet service providers that specialised in the auto market, offering services such as traffic and weather reports. "We need someone to provide the content," he said. The new products, which would also let drivers use their voice to dial a number on their mobile phones, will enhance existing technology that lets them get directions, turn on air conditioning, and find a radio station by voice. Lernout, known for its software and other technology that lets people give computers commands by voice rather than by keyboard, announced the creation of the venture in April. It owns 60 percent of the venture, while Visteon holds the other 40 percent. Ford, the world's No. 3 auto maker, already plans to spin off Visteon to its shareholders by the middle of the summer.