Scansoft and SpeechWorks International announced that the United States Department of Justice has granted early termination of the antitrust waiting period under the Hart-Scott-Rodino Act for ScanSoft’s proposed acquisition of SpeechWorks. The transaction remains subject to various closing conditions, including the approval of ScanSoft and SpeechWorks shareholders. The special meetings of shareholders will be announced at a later date, following the filing of a Registration Statement on Form S-4. The transaction has been approved unanimously by both boards of directors and following shareholder approval is expected to close in August 2003.
On April 24, 2003, ScanSoft and SpeechWorks International announced a definitive agreement for ScanSoft to purchase all of the outstanding common stock of SpeechWorks. The combination of ScanSoft and SpeechWorks will result in a global organization with the broadest portfolio of speech technologies, applications and services in the industry.