Intel to Invest $30M in Speech-Recognition Firm

Intel dips its toes into speech-recognition with a sizeable investment in Lernout & Hauspie

Lernout & Hauspie Speech Products (L&H) today announced Intel Corp. has signed a letter of intent to invest $30 million in L&H, according to a statement from L&H.

The investment is subject to approval by the U.S. government as well as a final OK by both companies, L&H said. As part of the agreement, Intel will initially acquire nonvoting securities convertible into L&H common stock, the Ieper, Belgium, company said.

The companies are discussing plans to use speech-recognition technology in natural language understanding, information mining of unstructured data and other areas, L&H said.

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