WALTHAM, Mass., Jan. 8, 2015 /PRNewswire/ -- Lionbridge
Technologies, Inc. (Nasdaq: LIOX) today announced that it has
completed the acquisition of CLS Communication, a privately-held
provider of translation solutions to clients in the financial
services, industrial, public sector and life sciences
markets. The combination of Lionbridge and CLS enhances
Lionbridge's ability to address growing demand for integrated,
technology-enabled translation solutions that allow organizations
to create, translate and manage digital content worldwide.
Headquartered in Zurich,
Switzerland, with operations in 10 countries in Europe, North
America and Asia, CLS
provides Lionbridge with complementary geographic coverage and
several long-standing, multi-million dollar relationships with
clients in the financial services, industrial, public sector and
life sciences markets. The Company has approximately
600 professionals including global program managers, linguists and
language technology experts who create, optimize and translate
highly complex technical, marketing and regulatory content for
world leading brands.
"We are pleased to announce the rapid completion of our
acquisition of CLS," said Rory
Cowan, CEO of Lionbridge. "Over the past few weeks our
enthusiasm about the opportunities for the combined organization
has continued to build. With CLS's high-quality professional
services and the complementary nature of our geographic reach and
vertical market expertise, it is clear this business combination
positions Lionbridge for continued growth, innovation and client
service excellence."
More information about the business combination can be found on
the CLS Communication announcement page on lionbridge.com.
About Lionbridge
Lionbridge enables more than 800 world-leading brands to increase
international market share, speed adoption of products and
effectively engage their customers in local markets worldwide.
Using our innovative cloud technology platforms and our global
crowd of more than 100,000 professional cloud workers, we provide
translation, online marketing, global content management and
application testing solutions that ensure global brand consistency,
local relevancy and technical usability across all touch points of
the customer lifecycle. Based in Waltham,
Mass., Lionbridge maintains solution centers in 26
countries. To learn more, visit http://www.lionbridge.com.
Forward-Looking Statements
This press
release contains forward-looking statements that involve risks and
uncertainties, including expected financial performance of
Lionbridge following the consummation of the acquisition of CLS
Communication, Lionbridge's ability to achieve the expected
synergies, revenue and profitability as a result of the acquisition
and the strengthening of Lionbridge's position in the translation,
content and communications market as a result of the acquisition.
Lionbridge's actual experiences, actions, financial and operating
results may differ materially from those discussed in the
forward-looking statements. Factors that might cause such a
difference include the timing, complexity and expense of
integration and restructuring activities, Lionbridge's inability to
successfully integrate CLS and its employees into Lionbridge and
achieve expected synergies; Lionbridge's ability to attract and
retain key personnel; costs associated with and consequential to
the acquisition and integration of CLS
Communication and benefits realized from the acquisition;
Lionbridge's ability to accurately forecast the acquisition related
restructuring costs and allocation of the purchase price, goodwill
and other acquisition related intangibles and other asset
adjustments; costs associated with restructuring of certain
European operations; risks associated with management of growth;
the failure to keep pace with the rapidly changing requirements of
its clients; termination of customer contracts prior to the end of
their term; reorganization or restructuring initiatives of one or
more major clients or customers, which may impact such customer's
demand or requirements for Lionbridge's services; the ability of
Lionbridge to expand its customer relationships and the timing and
success of such activities; the impact of foreign currency
fluctuations on revenue, margins, costs, operating results and
profitability Lionbridge's dependence on clients' product releases
and production schedules to generate revenues; the loss of a major
client or customer; the size, timing and recognition of revenue
from major clients; customer delays or postponements of services;
risks associated with management of growth, transition and
integration; the failure to keep pace with the rapidly changing
requirements of its clients;; risks associated with competition and
competitive pricing pressures; and Lionbridge's ability to forecast
revenue and operating results. For a more detailed description of
the risk factors associated with Lionbridge, please refer to the
Company's Annual Report on Form 10-K for the year ended
December 31, 2013 and subsequent
filings with the SEC (copies of which may be accessed through the
SEC's website at http://www.sec.gov).
Contacts:
Sara Buda
Lionbridge Technologies
sara.buda@lionbridge.com
Tel. +1-978-964-1404
Matthias Trumpy
CLS Communication
Mail: info-ch@cls-communication.com
Tel. +41 44 206 68 68
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SOURCE Lionbridge Technologies, Inc.