The Delaware court has approved the sale of TransPerfect shares to Phil Shawe and ruled that Liz Elting’s objections are without merit. Shawe will pay USD 770m, over 10 times EBITDA. Elting to receive USD 287m in after-tax net proceeds.
TransPerfect co-CEO Liz Elting is pushing the Delaware court to reject the sale of her shares to her co-founder Phil Shawe, claiming the custodian’s abuse of discretion and Shawe’s misconduct. Custodian’s lawyer cites five factors that merit the sale to Shawe.
US federal judge says ‘no direct evidence’ that Lionbridge and owner, H.I.G. Capital, obtained trade secrets under false pretenses during court-ordered sale of TransPerfect; latter to appeal ruling.
Revenues for 2017 “just short of USD 600m”, says Lionbridge CEO John Fennelly in what he calls a year of transition. CEO comments on executive team restructuring, neural MT, and why his mandate is very simple.
Lionbridge CEO Rory Cowan talks to Slator about how the USD 360m deal with private equity fund H.I.G Capital came about and how he plans to leverage the company’s balance sheet to play a very active role in industry consolidation.
Lionbridge sells data annotation division to Canada's TELUS in major payday for private equity owners H.I.G. Capital. Translation and localization business to remain with Lionbridge.
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Lionbridge and private equity owner H.I.G. fire back at TransPerfect over a trade secrets spat, calling the lawsuit’s claims false and meritless.
TransPerfect cuts annual interest bill by USD 15m as it refinances loan used to secure sole ownership for Phil Shawe. CEO says there are sufficient funds for major acquisition.
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Court battles loom as TransPerfect files lawsuit against Lionbridge over alleged misuse of confidential information obtained during 2017 court-imposed sale process.
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