Originally published at www.seclive.com
Lionbridge Technologies Inc. (NASDAQ:LIOX) will acquire application developer and testing solutions company E5 Systems, according to a recent announcement. The transaction, valued at around $3.75M, involves $1.6M cash and the possibility of earning an additional $2.15M, based on performance metrics and payable over a two-year period. This acquisition is important to Lionbridge in that it supports its goals of expanding operations in China in order to meet demand. E5 Systems has personnel based in the United States and China, specifically in Jinan, China, an area between Beijing and Shanghai. Lionbridge CEO Rory Cowan remarked that as more companies rely on Lionbridge, it is necessary to continue growth and the E5 Systems acquisition smartly achieves continued growth in key markets.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.