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Lionbridge Technologies Inc Announces Acquisition Of Application Development And Testing Firm E5 Systems

Tuesday, 8 Oct 2013 09:13am EDT 

Lionbridge Technologies Inc announced that it has acquired E5 Systems, a US-based, privately-held provider of application development and testing solutions. The addition of E5 will enable Lionbridge to expand its presence in China, meet growing demand for integrated onshore / offshore solutions and access E5's long-standing relationships with clients in the hospitality and financial services industries. Lionbridge is acquiring E5 Systems for a total estimated cash consideration of approximately $1.6 million, subject to adjustment for working capital and other matters, and an additional $2.15 million maximum earn-out potential which would be payable in cash over two years, subject to the attainment of certain annual revenue metrics. 

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