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After walking on shaky financial legs for the past year, Centigram Communications Corp. {CGRM} now has $5 million in Lernout & Hauspie {LHSPF} stock shares. The San Jose, Calif.-based Centigram sold its text-to-speech technology, TruVoice, to Lernout & Hauspie on June 29.
TruVoice comprised an estimated 1 percent of Centigram's annual revenue, or $1.3 million. Centigram is valued at $40 million says Herbert Tinger, vice president of technology research for Albany, N.Y.-based First Albany Corp., a financial consultancy.
Centigram's move to strip down to its core...