Caere buys OCR rival Recognita
Published: 04 Dec 1996 14:07 GMT
Caere, which bought its nearest rival Calera at the beginning of 1995, will pay about $4.7 million for Budapest-headquartered Recognita, one of a handful of Eastern European companies who have made it to the world IT stage. The deal is expected to go through by the end of the year and will leave Xerox as Caere's only realistic competition in OCR.
Bob Teresi, Caere's chairman and CEO, said the purchase "will position Caere as the uncontested OCR leader" with over 100 languages covered, and provide the company with new strength in Eastern Europe.
Caere was founded in 1976 by Intel founder and IC pioneer Robert Noyce.
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