Lionbridge to sharpen focus and accelerate investments in
innovative technology solutions for core language market
WALTHAM, Mass., March 2, 2021 /PRNewswire/ -- Lionbridge, a
global leader in translation and localization solutions, today
confirmed the close of the previously announced sale of its
artificial intelligence (AI) division, Lionbridge AI, to TELUS
International (NYSE and TSX: TIXT), a digital customer experience
innovator that designs, builds and delivers next-generation
solutions for global and disruptive brands. TELUS International is
a subsidiary of Canada-based TELUS
Corporation (T-TSX; NYSE-TU), a leading communications and
information technology company. The transaction closed on
December 31, 2020.
Lionbridge AI will complement TELUS International's expanding
portfolio of next-generation digital solutions as the organizations
team up to support the rapidly advancing field of artificial
intelligence. The sale of Lionbridge AI will further Lionbridge's
commitment to delivering innovation for its core language customers
across technology, life sciences, games, digital commerce and
more.
"Combining Lionbridge's AI business with TELUS International's
advanced set of digital platforms will create a newly formed
company with a unique set of cutting-edge solutions. In addition to
enhancing TELUS International's go-to-market strategy, we felt this
merger was a very good cultural fit for our talented global team
given our companies' shared commitment to employee engagement and
well-being," said John Fennelly, CEO
of Lionbridge. "I have no doubt that our AI team and their
expanding community will continue to thrive as part of TELUS
International."
"2021 will mark the 25th anniversary of Lionbridge and there is
no better time for us to return to our roots, lead the way in
transforming the language space and continue to deepen our
relationships with our customers," continued Fennelly. "I'm excited
for the possibilities in store as we enter this next chapter and
accelerate our focus on innovation, technology and bringing new
products and services to market."
Morgan Stanley & Co. LLC acted as financial advisor and
Kirkland & Ellis LLP served as legal advisor to Lionbridge in
connection with the transaction.
About Lionbridge
Lionbridge partners with brands to
break barriers and build bridges all over the world. For 25 years,
we have helped companies connect with their global customers and
employees by delivering translation and localization solutions in
350+ languages. Through our world-class platform, we orchestrate a
network of passionate experts across the globe who partner with
brands to create culturally rich experiences. Relentless in our
love of linguistics, we use the best of human and machine
intelligence to forge understanding that resonates with our
customers' customers. Based in Waltham,
Massachusetts, Lionbridge maintains solution centers in 26
countries. Learn more at www.lionbridge.com.
Media Contact
Stephanie
Carone
Lionbridge
mediainquiries@lionbridge.com
+1-781-434-6000