thanks Mervyn- Steve Baum had sent us a notice as well- good news!
Denise
----- Original Message -----
From: "Mervyn Robertson" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Wednesday, November 14, 2001 6:23 PM
Subject: Kurzweil Educational Systems
> With the ongoing demise of Lernout & Hauspie, there have been many
questions
> asked regarding the survival of Kurzweil (hitherto part of Lernout &
> Hauspie). I therefore post the following announcement for general
> information:
>
> MANAGEMENT TEAM ACQUIRES KURZWEIL EDUCATIONAL SYSTEMS GROUP FROM LERNOUT
&
> HAUSPIE
>
>
> Management Buyout Ensures the Continued Availability of Leading-edge
> Software for People with Reading Difficulties, Blindness and Low Vision.
>
> November 14, 2001 - Burlington, MA. The management of the Kurzweil
> Educational Systems Group of Lernout & Hauspie Speech Products N.V. (L&H)
> today announced that they have purchased the business and assets of the
> group from L&H. Kurzweil Educational Systems is the industry's leading
> developer of innovative reading software for people with learning
> disabilities, reading difficulties, blindness and low vision.
> Michael Sokol led the management buyout and will serve in the new
> company as President and CEO. Sokol was a founder in 1996 of Kurzweil
> Educational Systems, Inc., along with technical visionary Ray Kurzweil who
> will be a Director of the new entity, and Jerome Elkind who will be
Chairman
> of the Board. Kurzweil Educational Systems, Inc. was acquired by L&H in
> 1998.
> The new company will resume operations under its original name of Kurzweil
> Educational Systems, Inc. and will remain headquartered in Massachusetts.
> It will also continue to maintain sales offices in St. Petersburg, Florida
> and Palo Alto, California along with its United States and international
> reseller channels of distribution.
> "From the outset we assembled a talented and dedicated management team
which
> remained intact at L&H and which will now be key to our success as an
> independent entity," said Michael Sokol. "Collectively, we are excited by
> this opportunity to build on the reputation and leadership position we
have
> established in our industry. This acquisition demonstrates our unwavering
> commitment to those with disabilities who rely on our products."
> Stephen Baum, Chief Technology Officer of the new company, commented, "Few
> things are as rewarding as applying software innovation to improving the
> lives of people with disabilities. As an independent company, we will be
an
> organization that is totally focused on using our technical resources and
> skills to extend the capabilities of our products. The ability to continue
> to provide innovative reading and writing products that fulfil such a
vital
> need in the lives of our customers inspires us and will guide our future
> success."
> Kurzweil Educational Systems' current product line consists of Kurzweil
> 1000, an advanced reading tool for people who are blind or severely
visually
> impaired; Kurzweil 3000, a reading and writing tool for those who have
> learning disabilities and other reading difficulties; and MagniReader, for
> people who have low vision.
>
> About Kurzweil Educational Systems
> Kurzweil Educational Systems is the leading provider of software to help
> people with learning disabilities, vision impairments and related
> disabilities overcome or compensate for their reading and writing
> difficulties so that they can lead more independent, productive and
> enjoyable lives. To this purpose, Kurzweil Educational Systems designs,
> develops and markets Windows- and Macintosh-based scanning, reading, and
> writing software that provides access to the full range of printed and
> electronic information including books, magazines and content from the
World
> Wide Web.
>
> Regards
> Mervyn Robertson
> www.sightandsound.co.uk
>
>
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