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Short Take: Lernout & Hauspie acquires translation company

Lernout & Hauspie Speech Products has acquired Gesellschaft fuer Multilinguale System, a Munich-based machine translation service provider, for $14.7 million. $10.7 million of the transaction is in cash and $4 million is newly issued shares of L&H common stock.

Lernout & Hauspie Speech Products has acquired Gesellschaft fuer Multilinguale System, a Munich-based machine translation service provider, for $14.7 million. $10.7 million of the transaction is in cash and $4 million is newly issued shares of L&H common stock.