UPDATE 1-Lionbridge shares soar on deal with IBM
* To speed-up real-time translation automation development
* Lionbridge shares rise 20 percent
April 22 (Reuters) - Shares of Lionbridge Technologies Inc (LIOX.O) received a boost on Thursday, rising 20 percent to their highest in three years, after the translation services provider inked a deal with IBM (IBM.N).
Under the deal, the companies agreed to accelerate development of automated translation technology by leveraging statistical algorithms that translate content and communications such as web pages, documents, customer support, user generated content, instant messages, blogs and email.
Customers of Lionbridge, which provides language, content and technology outsourcing services, include Hewlett-Packard Co (HPQ.N), Microsoft Corp (MSFT.O) and Motorola Inc MOT.N.
Lionbridge shares were up 82 cents at $5.35 in morning Nasdaq trade. They hit a multi-year high of $5.42 earlier in the session. (Reporting by S. John Tilak in Bangalore; Editing by Jarshad Kakkrakandy)
- Tweet this
- Share this
- Digg this