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H.I.G. Capital to Acquire Translation Services Firm Lionbridge Technologies in USD 360m Cash Deal.

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M2 EQUITYBITES-December 14, 2016-H.I.G. Capital to Acquire Translation Services Firm Lionbridge Technologies in USD 360m Cash Deal

(C)2016 M2 COMMUNICATIONS http://www.m2.com

14 December 2016 - US-based professional translation services and localisation company Lionbridge Technologies, Inc. (NASDAQ: LIOX) has signed a definitive agreement to be acquired by an affiliate of US-based private equity investment firm H.I.G. Capital, LLC, the company said.

Under the terms of the agreement, Lionbridge stockholders will receive USD 5.75 per share in cash for each share of Lionbridge common stock, representing a 17% premium over Lionbridge's 60 day-weighted average price per share as of 9 December 2016.

H.I.G. invests in companies throughout the US Europe and Latin America and aligns itself with committed management teams to help build businesses of significant value.

Members of Lionbridge's board of directors voting on the matter have unanimously approved the merger agreement and agreed to recommend that stockholders adopt the agreement.

Lionbridge will undertake a 45-day "go-shop" period, commencing immediately, during which the Lionbridge Board, with the assistance of its financial and legal advisors, will actively solicit, evaluate and potentially enter into negotiations with parties who offer alternative proposals.

Closing of the transaction is subject to customary closing conditions, including, among others, the affirmative vote in favour of the transaction by holders of a majority of the company's outstanding common stock and the...

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