Waltham-Based Translation Company Goes Private for $360 Million

WALTHAM, MA – A Waltham-based company that specializes in global solutions through translation services will be acquired by a private equity firm for $360 million.

Lionbridge announced the deal with Boston-based H.I.G. Capital on Monday. According to a company press release, Lionbridge stockholders will receive $5.75 per share, representing a 17 percent premium over its 60 day-weighted average price per share as of Dec. 9.

"We are pleased to announce this agreement," Rory Cowan, chairman and CEO of Lionbridge, said 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."

Cowan founded the company in 1996, and it had its IPO more than 17 years ago, Boston Business Journal reported.

Cowan told the Business Journal the move will allow Lionbridge to expedite its acquisition process – now at the pace of about one small company per year – and save regulatory costs associated with being a public company.

Lionbridge is located at 1050 Winter St. in Waltham.

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