Multi-Billion Dollar Biotech Firm Chooses Lionbridge as Exclusive Translation Provider with Three-Year Master Services Agreement
Lionbridge Updates Q4 Revenue Guidance to Reflect Stronger-than-Expected Volume from Top Customers and New Program Wins
WALTHAM, Mass. - December 14, 2009 - Lionbridge (Nasdaq: LIOX) today announced that it has signed a new, three-year master services agreement with a multi-billion dollar biotech company with products and services that serve patients in approximately 100 countries. With the agreement Lionbridge will become the sole provider for translation of the company's online content, which includes regulatory, marketing, training, human resources, legal, and corporate communications information. Lionbridge expects this new program to generate approximately $6 million over the term of the contract.
Lionbridge is providing the biotech company an integrated worldwide program for translation and linguistic validation across more than 40 languages. To facilitate an efficient translation process that adheres to strict regulatory compliance requirements, the client's users will access Lionbridge's Freeway® portal technology to streamline project submission, project tracking, collaboration, in-country reviews and reporting. The program will also rely on Logoport®, Lionbridge's Web-architected translation memory technology to facilitate real-time collaboration among all project participants and to assure quality. Because Freeway and Logoport are Web-based, the biotech company can take advantage of the benefits of technology without having to buy, deploy or maintain translation software.
"This new contract is indicative of strengthening demand for Lionbridge services and reflects the value we bring to multinational corporations that need to harmonize processes and manage complex requirements while serving customers worldwide," said Rory Cowan, CEO, Lionbridge. "By integrating our market leading products and services across the enterprise, Lionbridge offers a complete managed service model for multilingual content. As a result, the company gains a flexible and reliable solution for managing global content while increasing quality and consistency."
Separately, the Company announced that it now expects fourth quarter revenue to be at the high-end or above its previously provided revenue guidance range of $98-102 million as a result of new program wins and better than expected revenue volume from certain key customers. The Company will release its fourth quarter and FY 2009 results in early February 2010.
About Lionbridge Life Sciences Lionbridge Life Sciences specializes in language services for medical device developers, pharmaceutical companies, and CROs, delivering high-quality translation, linguistic validation, and interpretation services in over 150 languages. Life Sciences clients benefit from Lionbridge's highly specialized network of medically trained linguists and professionals operating from solution centers across the world.
About Lionbridge Lionbridge Technologies, Inc. (Nasdaq: LIOX) is a provider of translation, development and testing solutions. Lionbridge combines global resources with proven program management methodologies to serve as an outsource partner throughout a client's product and content lifecycle - from development to translation, testing and maintenance. Global organizations rely on Lionbridge services to increase international market share, speed adoption of global products and content, and enhance their return on enterprise applications and IT system investments. Based in Waltham, Mass., Lionbridge maintains solution centers in 26 countries and provides services under the Lionbridge and VeriTest brands. To learn more, visit http://www.lionbridge.com.
Lionbridge, Freeway, and Logoport are trademarks or registered trademarks of Lionbridge Technologies, Inc. in the U.S. and throughout the world. All other trademarks are the property of their respective owners.
Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including those statements relating to expected revenue and revenue growth during the fourth quarter. Lionbridge's actual experience may differ materially from those discussed in the forward-looking statements. Factors that might cause such a difference include the termination of customer contracts prior to the end of their term; Lionbridge's dependence on clients' product releases to generate revenues; the loss of a major client or customer; the size, timing and recognition of revenue from major clients; customer delays or postponements of services; political, economic and business fluctuations in international markets; as well as risks of additional downturns in conditions generally, and in the information technology and software industries specifically, and risks associated with competition and competitive pricing pressures; and Lionbridge's ability to forecast revenue and operating results. For a more detailed description of the risk factors associated with Lionbridge, please refer to Lionbridge's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 3, 2009 and subsequent filings.