Coincidently Monday the trail against
Lernout & Hauspie begins. I don't know if they are known outside of Belgium, but in the late nineties they gave Flanders (Dutch speaking North of Belgium) the dream it could have a leading role in peach technology. L&H even formed the centre of a "Flanders Language Valley".
Unfortunately L&H made some wrong investments and became the centre of a major financial scandal after Robert Smithson of the Wall Street Journal discovered fictitious transactions in Korea and shady accounting techniques. As a result L&H went bankrupt in 2001. It's around this scandal that a court case starts this Monday. It's big news here in Belgium, as a lot of people invested money in L&H and are hoping to get some of it back.
I was wondering if L&H where actually on the right track, Jo Lernout today still believes in the technology. I was thinking he was wrong, but this news item might prove him right.
It was actually L&H that bought the then faltering in Dragon Systems in 2000. L&H was after their bankruptcy bought by ScanSoft (for very little money). ScanSoft bought Nuance Communications and changed it's name to Nuance. And now they seem to be getting successful with the NaturallySpeaking software, so it probably was a good acquisition by L&H back then. And ScanSoft (now Nuance) was in turn smart in buying them up.