This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lionbridge Acquires Midwest-Based Technical Engineering Services Firm, Productive Resources

WALTHAM, Mass., June 4, 2012 /PRNewswire/ --   Lionbridge Technologies, Inc. (Nasdaq: LIOX) today announced that it has acquired Indiana-based Productive Resources, LLC (PRI), a privately-held provider of outsourced  technical engineering, documentation and drafting solutions, for approximately $12 million, net of cash.  The addition of PRI will address growing demand for integrated solutions that enable organizations to effectively author, illustrate and translate their content and technical documentation.

With recurring, multi-year contracts with clients in the manufacturing and industrial sectors, PRI provides Lionbridge well-established operations in the Midwestern region of the US.  The acquisition also expands the Company's delivery model for addressing all aspects of client's global content lifecycle, including drafting, illustration, documentation, translation and support. 

"As US-based manufacturing organizations continue to grow their export markets, the demand for integrated, global technical engineering services is accelerating," said Rory Cowan, CEO, Lionbridge.  "PRI is the ideal partner for Lionbridge with a proven track record of providing domestically-delivered engineering and documentation solutions that offer clients unparalleled value, knowledge and experience.  We will build upon PRI's skills as we expand relationships with clients in this growing market sector."  

The two companies have several mutual clients, including Rolls Royce, and already have integrated their solutions to support clients' needs for technical illustration, authoring and translation.

"PRI realizes significant benefits by becoming part of Lionbridge," said Steve Booher, CEO of PRI. "We gain a powerful worldwide sales channel and a proven global delivery platform to complement our US based operations. Our employees and clients will benefit from becoming part of a larger organization with a global team of program management experts across 26 countries and a broader suite of solutions that span the full lifecycle of global content and technical engineering."

The Company expects the acquisition will contribute modestly to earnings in 2012 and will be solidly accretive to earnings in 2013 including minimal acquisition and integration costs. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs