off topic
Lernout & Hauspie Enters Strategic
Partnership With Language
Information Technology Developer
Accent Software International
Business Wire - June 09, 1998 16:16
%LERNOUT-HAUSPIE LHSPF LHSP.ED ACNTF
%MASSACHUSETTS %COLORADO %COMED %COMPUTERS
%ELECTRONICS V%BW P%BW
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.
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.
CONTACT: L&H Worldwide PR/IR
Lernout & Hauspie
Ellen Spooren, 781/203-5344
espooren@lhs.com
OR
L&H Corporate Com. USA
Lernout & Hauspie
Audrey Pobre, 781/203-5341
apobre@lhs.com
OR
Accent Software
Todd Oseth, 719/576-2610
toddo@accentsoft.com
"The Company's products, particularly our newer offerings including Loc@le, our translation
services and WordPoint, continue to gain acceptance in the marketplace and 1 believe we should
see steady growth in revenue," reported Todd Oseth, Accent's President and Chief Executive
Officer. "We are diligently working on obtaining additional working capital and are continuing to
pursue other strategic alternatives that will help us turn the company around."
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.
About Accent Software International Ltd.
Accent Software International, Ltd. is a provider of language solutions for software products in
over 30 languages. AgentSoft, Ltd., develops Internet automation products. Products and services
of both Accent and AgentSoft are provided through direct, OEM and retail channels in most
regions of the world. Accent Software was founded in 1988, AgentSoft was established in 1996. |
