From: carlos <[log in to unmask]>
Subject: Fwd: An announcement from Kurzweil Educational Systems




>From: Stephen Baum <[log in to unmask]>
>
>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 fulfill
>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. For more information, please visit Kurzweil Educational
>Systems on the World Wide Web at  www.kurzweiledu.com.
>
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