Consolidation continues in the speech recognition market. Lernout & Hauspie has signed a definitive agreement to purchase Dictaphone in a deal valued at $936 million. The deal is expected to close by the end of April.
If completed, L&H would gain access to Dictaphone's 5000 worldwide customers worldwide, 100 sales representatives, and a national network of technical service representatives, according to the firm. In addition to its healthcare activities, Stratford, CT-based Dictaphone provides its dictation and telephony call center recording systems to the telecommunications sector. It had 1999 revenues of $350 million.
L&H also hopes to benefit from geographical synergies between the firms. Dictaphone's revenues in the past have primarily come from the North American sector, while L&H has strong operations in Europe and Asia Pacific, according to the company.
Following closure of the deal, Burlington, MA-based L&H plans to create separate legal entities for several businesses, including the Healthcare Solutions Group. The company expects to form a new Healthcare Enterprise business group to gain immediate access to Dictaphone's large customer base. The company is considering setting up this healthcare unit as a separate entity for Web-based healthcare market services.
L&H expects to retain the Dictaphone management team and the firm's headquarters in Stratford, CT.
By AuntMinnie.com staff writers
March 9, 2000
Copyright © 2000 AuntMinnie.com
Consolidation continues in the speech recognition market. Lernout & Hauspie has signed a definitive agreement to purchase Dictaphone in a deal valued at $936 million. The deal is expected to close by the end of April.
If completed, L&H would gain access to Dictaphone's 5000 worldwide customers worldwide, 100 sales representatives, and a national network of technical service representatives, according to the firm. In addition to its healthcare activities, Stratford, CT-based Dictaphone provides its dictation and telephony call center recording systems to the telecommunications sector. It had 1999 revenues of $350 million.
L&H also hopes to benefit from geographical synergies between the firms. Dictaphone's revenues in the past have primarily come from the North American sector, while L&H has strong operations in Europe and Asia Pacific, according to the company.
Following closure of the deal, Burlington, MA-based L&H plans to create separate legal entities for several businesses, including the Healthcare Solutions Group. The company expects to form a new Healthcare Enterprise business group to gain immediate access to Dictaphone's large customer base. The company is considering setting up this healthcare unit as a separate entity for Web-based healthcare market services.
L&H expects to retain the Dictaphone management team and the firm's headquarters in Stratford, CT.
By AuntMinnie.com staff writers
March 9, 2000
Copyright © 2000 AuntMinnie.com
Consolidation continues in the speech recognition market. Lernout & Hauspie has signed a definitive agreement to purchase Dictaphone in a deal valued at $936 million. The deal is expected to close by the end of April.
If completed, L&H would gain access to Dictaphone's 5000 worldwide customers worldwide, 100 sales representatives, and a national network of technical service representatives, according to the firm. In addition to its healthcare activities, Stratford, CT-based Dictaphone provides its dictation and telephony call center recording systems to the telecommunications sector. It had 1999 revenues of $350 million.
L&H also hopes to benefit from geographical synergies between the firms. Dictaphone's revenues in the past have primarily come from the North American sector, while L&H has strong operations in Europe and Asia Pacific, according to the company.
Following closure of the deal, Burlington, MA-based L&H plans to create separate legal entities for several businesses, including the Healthcare Solutions Group. The company expects to form a new Healthcare Enterprise business group to gain immediate access to Dictaphone's large customer base. The company is considering setting up this healthcare unit as a separate entity for Web-based healthcare market services.
L&H expects to retain the Dictaphone management team and the firm's headquarters in Stratford, CT.
By AuntMinnie.com staff writers
March 9, 2000
Copyright © 2000 AuntMinnie.com
