WALTHAM, Mass., Feb. 28, 2017 /PRNewswire/ -- Lionbridge
Technologies, Inc. (Nasdaq: LIOX), the market leader in translation
and digital content services, today announced the stockholder
approval and closing of the previously announced acquisition of
Lionbridge by an affiliate of H.I.G. Capital, LLC (H.I.G.), a
leading private equity firm. Under the terms of the
acquisition agreement, Lionbridge stockholders are entitled to
receive $5.75 in cash for each share
of Lionbridge common stock they hold.
With the completion of the transaction, shares of Lionbridge
common stock will no longer be listed on Nasdaq, and trading in
Lionbridge shares will be suspended. Lionbridge is now a
privately-held company and part of the portfolio of H.I.G.
companies.
The proposal to adopt the merger agreement received the
affirmative vote of the holders of a majority of the outstanding
shares of Lionbridge common stock entitled to vote on the
transaction. According to the final voting results,
approximately 75.6% of the outstanding shares of common stock of
Lionbridge, as of the close of business on January 27, 2017, the record date, voted and
91.3% of such shares voted in favor of the merger agreement.
All approvals, consents or consultations required to consummate
the merger, including those under U.S. and international antitrust
laws have been obtained or made, and accordingly, the related
conditions to the consummation of the merger set forth in the
merger agreement have been fully satisfied.
Union Square Advisors LLC acted as exclusive financial advisor
to Lionbridge and provided a fairness opinion to the special
committee of the Board of Directors of Lionbridge. Credit
Suisse Securities (USA) LLC acted
as lead financial advisor to H.I.G. in connection with the proposed
transaction. Goodwin Procter LLP acted as legal advisor for
Lionbridge, and Kirkland & Ellis acted as legal advisor to
H.I.G.
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
detail-critical business processes, including translation, online
marketing, global content management and application testing
solutions, which 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 27
countries. To learn more, visit www.lionbridge.com.
About H.I.G. Capital
H.I.G. is a leading global
private equity and alternative assets investment firm with
$21 billion of equity capital under
management.* Based in Miami, and
with offices in New York,
Boston, Chicago, Dallas, Los
Angeles, San Francisco, and
Atlanta in the U.S., as well as
international affiliate offices in London, Hamburg, Madrid, Milan, Paris,
Bogotá, Mexico City and
Rio de Janeiro, H.I.G. specializes
in providing both debt and equity capital to small and mid-sized
companies, utilizing a flexible and operationally focused/
value-added approach:
- H.I.G.'s equity funds invest in management buyouts,
recapitalizations and corporate carve-outs of manufacturing and
service businesses.
- H.I.G.'s debt funds invest in senior, unitranche and junior
debt financing to companies across the size spectrum, both on a
primary (direct origination) basis, as well as in the secondary
markets. H.I.G. is also a leading CLO manager, through its
WhiteHorse family of vehicles, and manages a publicly traded BDC,
WhiteHorse Finance.
- H.I.G.'s real estate funds invest in value-added properties,
which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed
more than 200 companies worldwide. The firm's current portfolio
includes more than 100 companies with combined sales in excess of
$30 billion. For more information,
please refer to the H.I.G. website at www.higcapital.com. For
additional information, refer to the Company's 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
+1-978-964-1404
Matt Lozow
Managing Director, H.I.G. Capital
mlozow@higcapital.com
+1-212-506-0500
* Based on total capital commitments managed by H.I.G. Capital
and affiliates.
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SOURCE Lionbridge Technologies, Inc.