Lernout & Hauspie assets snatched up

All over bar the shouting...

A US bankruptcy court has approved Scansoft's acquisition of Lernout and Hauspie's assets. The scanning specialist has acquired most of the speech and language assets from the beleaguered software house for $10m in cash, a $3.5m promissory note and 7.4 million Scansoft shares. Lernout and Hauspie collapsed after a police investigation into allegations of fraud culminated in the incarceration of the two founders in May.