H.I.G. Capital Acquires Lionbridge
Lionbridge Technologies, a provider of translation, online marketing, global content management, and application testing solutions, will be acquired by an affiliate of H.I.G. Capital, a private equity investment firm. The stock transactrion is valued at approximately $360 million.
"We are pleased to announce this agreement," said Rory Cowan, chairman and CEO of Lionbridge, in a statement. "The acquisition will allow Lionbridge to continue to focus on providing the most innovative language and technology solutions to more than 800 world-leading brands, while accelerating our proven leadership in global content and communications. Our board of directors believes this transaction is in the best interest of our stockholders and affirms Lionbridge's tremendous value and market-leadership."
"We believe Lionbridge is a uniquely positioned global content and communications company with exceptional service and capabilities, strong relationships with its global client base, and tremendous potential for further growth," said Matt Lozow, a managing director at H.I.G., in a statement. "Lionbridge is a strong company with innovative crowd-in-the-cloud business models and a world-class team. We look forward to working with Lionbridge management through the Company's next phase of growth and development."
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