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SOURCE Lionbridge Technologies, Inc.
Lionbridge's Unique Crowd-in-the-Cloud(SM) Solutions Enable Global Leaders across Industries to Manage Locally-Relevant, Brand-Consistent Content Worldwide
WALTHAM, Mass., Jan. 16, 2014 /PRNewswire/ -- Lionbridge Technologies, Inc. (Nasdaq: LIOX), today announced that it recently secured several new, multi-year, multi-million dollar engagements with organizations in the automotive, manufacturing, travel, technology and retail industries. Lionbridge estimates these programs will generate approximately $11-13 million of annual recurring revenue once these programs have fully ramped. The new programs include:
"These new engagements underscore the growing demand for global crowd-in-the-cloud solutions that enable enterprises to effectively manage rapidly-changing online content and communications worldwide," said Rory Cowan, CEO of Lionbridge. "We have the right strategy, the right technology and the right leadership in place. As a result, our teams are securing large-scale agreements with new clients across diverse end markets. 2014 will be an exciting year for Lionbridge as we extend our track record of establishing and growing strong client relationships with recurring revenue."
Lionbridge enables more than 800 world-leading brands to increase international market share, speed adoption of products and effectively engage their customers in local markets worldwide. Using our innovative cloud technology platforms and our global crowd of more than 100,000 professional cloud workers, we provide translation, online marketing, global content management and application testing solutions that ensure global brand consistency, local relevancy and technical usability across all touch points of the customer lifecycle. Based in Waltham, Mass., Lionbridge maintains solution centers in 26 countries. To learn more, visit http://www.lionbridge.com.
This press release contains express or implied forward-looking statements, including statements relating to estimated revenues associated with customer engagements and the timing of expected customer demand for the Company's services. Lionbridge's actual experiences and results may differ materially from those discussed in the forward-looking statements. Factors that might cause such a difference include; the termination of customer contracts or engagements prior to the end of their term; the size, timing and recognition of revenue; changes in the timing of customer demand for services; the duration of ramp and transition of new customer programs; changes in scope and work mix of the particular engagements; Lionbridge's ability to forecast revenue, profitability and customer demand; customer delays, postponement or reduction of services. For a more detailed description of the risk factors associated with Lionbridge, Please refer to Lionbridge's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 15, 2013.
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