Lionbridge Technologies Inc recently announced the acquisition of E5 Systems. E5 Systems is a firm that provides application development and testing solutions. With E5 Systems' addition, Lionbridge's expansion into China is bolstered to meet the increasing demand for integrated solutions as well as access to E5 Systems' relationships in the hospitality and finance services sectors.
According to Lionbridge CEO Rory Cowan, "Organizations across industries rely on our proven global management models that deliver the optimal combination of skill, geography and cost for each business need, from business process crowdsourcing to real time technology to offshore scale. The addition of E5 Systems will further add scale to our proven delivery capabilities in China and allow us to meet the growing demand for reliable, secure offshore delivery."
He added, "We will build on E5's unique skills to broaden our development, testing and globalization capabilities into new markets and new applications."
The acquisition is estimated to be worth USD1.6 million subject to adjustments. An additional USD2.15 million maximum earn-out potential payable in cash over two years would be subject to the attainment of certain revenue targets on a year on year basis.
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