Tuesday June 9, 4:01 pm Eastern Time
Company Press Release
Lernout & Hauspie Enters Strategic Partnership With
Language Information Technology Developer Accent
Software International
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 - news; 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 - news, ACNUF - news). 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.
Comprehensive Localization and Translation Services
L&H's Translation Division, also known as L&H Mendez, is comprised of linguistic professionals
who serve the entire spectrum of translation, localization and multilingual communications
requirements for print or electronic publishing. The division, which has a strong presence in
European markets, is the primary source of linguistic knowledge and expertise that drives
technological innovation for new software products like iTranslator.
Multilingual Content Acquisition and Translation Applications
L&H recently announced a service, iTranslator (formerly codenamed Coronado), that
dramatically simplifies and increases access to Web content for non-English speakers. The
product provides fast, accurate and comprehensive Internet search and language translation for
English, German, Spanish, and French languages. By using the topic-specific knowledge found in
these dictionaries, the translation takes into account the given context, resulting in a higher
readability level. For the highest accuracy, users can also submit text for human translation. The
product is expected to ship this summer and is the first of several applications being developed
using L&H's machine translation software.
About Lernout & Hauspie
Lernout & Hauspie Speech Products (L&H) is an international leader in the development of
advanced speech technology for various commercial applications and products. The Company is
divided into four divisions: core speech technologies; dictation, a division dedicated to discrete
and continuous speech offerings; translation services; and language technologies. Its four speech
and linguistic technologies are automatic speech recognition (ASR), text-to-speech (TTS), digital
speech compression and text-to-text (translation).
About Accent Software International
Accent Software International is a leading provider of multilingual solutions for software products.
Founded in 1988, Accent has developed multilingual, word processors, Email, and Web page
authoring products for the retail market, but has now redirected the company to combine these
technologies together into an offering that allows software products to be localized and globalized
with different language interfaces. In addition, consultation services are available for companies
that are uncomfortable dealing with multilingual user interfaces.
This Press Release contains forward-looking information that involves risks and uncertainties,
including statements regarding the partnership between Accent and L&H. There can be no
assurance that this partnership will strengthen L&H's position in the localization, globalization or
translation market; that L&H or Accent will manufacture, develop, and market any product
including technologies of the other party; that products incorporating one party's technology will
be successful
The forward-looking statements contained herein speak only as of the date of this press release.
L&H expressly disclaims any obligation or undertaking to release publicly any updates or
revisions to any such statement to reflect any change in expectations or any change in events,
conditions or circumstances on which any such statement is based.
All product names and trademarks mentioned herein are trademarks of L&H, Accent Software
and their respective owners.
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