ScanSoft acquires Speech and Language Division of Lernout and Hauspie

On December 7^th of 2001, ScanSoft signed a definitive agreement to acquire the majority of Lernout and Hauspie’s Speech and Language Technologies.  This agreement outlined the procedures to be used in the purchase and the intention of ScanSoft to acquire the company and incorporate it into the company’s holdings as quickly as possible.   Lernout and Hauspie (which was in bankruptcy) agreed to the terms.  The bankruptcy court then subsequently approved the agreement.   Click here to read the full press releases from ScanSoft. http://www.scansoft.com/news/pressreleases/2001/20011207_LHsign.asp

http://www.scansoft.com/news/pressreleases/2001/20011212_LHapproval.asp 

On December 12^th of 2001 the deal for ScanSoft to acquire the speech and Language division of Lernout and Hauspie closed.   Due to the fact that ScanSoft and Lernout and Hauspie shared almost identical distribution channels and marketing strategies,, the acquisition was beneficial to all.  ScanSoft then announced that they would keep at least half the employees and that the release of Dragon naturally Speaking Version 6 was on schedule. All versions were to be released by January of 2002.  As of now, all versions (Preferred, Professional, Medical, Legal, and Public Safety) are released. Click here to read the full press release from ScanSoft.  http://www.scansoft.com/news/pressreleases/2001/20011212_LHclose.asp 

This acquisition joins two technologies under one banner that compliment each other.   Dragon Naturally Speaking (speech recognition software) and Omni Form (A form builder that uses a scanner and the best OCR technology in the market today) provide a complete office solution.  For example, a doctor’s office that wants to become paperless could use the two programs in several ways.  The existing forms that the office uses can be scanned and recreated with OmniForm.   All existing documents can be scanned in, filed, and managed electronically using ScanSoft’s PaperPort.   All forms that have been created can be dictated into with Dragon Naturally Speaking.   The doctor’s office becomes paperless, well-organized and efficient.