Lernout & Hauspie says it may have a buyer
Boston Business Journal
Belgium-based Lernout & Hauspie Speech Products NV, a Belgian software maker that is under bankruptcy protection, said two companies are interested in buying part or all of the company.
Lernout and Hauspie's U.S. headquarters is in Burlington.
The company, which makes speech-recognition software, did not identify either potential buyer. The company said neither has made a firm offer, and if Lernout and Hauspie does not receive a binding offer before the end of the month, the company will run out of money.
The company also filed a second reorganization plan today with a Belgian court after its first proposal was rejected in June. Under the new plan, the company needs $20 million to $25 million of cash to survive, a fifth of the estimated amount of $100 million under the previous plan.
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