Geotext Founders Sue Lionbridge Over Earn-Out From 2015 Acquisition
Founders of legal language service provider Geotext sue Lionbridge, alleging revenues were understated when calculating payments owed them after 2015 acquisition.
Founders of legal language service provider Geotext sue Lionbridge, alleging revenues were understated when calculating payments owed them after 2015 acquisition.
Lionbridge posts flat sales for the first quarter 2016, citing weakness among its industrial clients. In marketing translation, it announces a USD 7m deal win, while latest acquisition Geotext lands a legal translation deal in Germany.
CEO Rory Cowen says Lionbridge continues to reduce reliance on technology buyers, as non-technology accounted for 46% of 2015 revenues. 2016 growth projected at 5-8%.
Lionbridge acquires Geotext Translations for $11 million in cash plus earn-out, valuing the New York-based legal LSP at less than 1x revenues and approx. 4x EBITDA
LSP giant announces massive share buyback, replaces CFO, and announces acquisition of legal translations LSP Geotext.
Your information will never be shared with third parties. No Spam.