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Lionbridge Technologies, Inc. (LIOX) Enables World-Leading Brands to Increase International Market Share with Innovative Translation Solutions
Lionbridge Technologies, Inc. (NASDAQ: LIOX) is a trailblazing globalization company focused on delivering industry-leading translation and localization, digital marketing, global content management and application testing services to more than 800 of the world’s top brands – including Microsoft (NASDAQ: MSFT), Deutsche Bank (NYSE: DB) and Canon (NYSE: CAJ). The company partners with businesses across a multitude of industries in order to reduce the complexities of multilingual content management, boost production efficiencies and effectively engage diverse audiences while simultaneously accelerating global growth.
In July, Lionbridge was named the world’s largest language services company by Common Sense Advisory (CSA), an independent market research firm, for the fourth consecutive year. According to CSA’s report, the market for outsourced language services recently surpassed $38 billion, and sustained growth is expected at a rate of six percent in the coming year. Because language is not a core competency for most organizations, commercial enterprises across a host of industries must outsource language translation in order to effectively communicate with constituents, providing an opportunity for Lionbridge to promote strong financial growth in the years to come.
In the third quarter of 2015, Lionbridge effectively capitalized on current market conditions in order to realize a 15 percent year-over-year increase in total revenues. Among this growth, the company secured several significant new customer engagements, including a Taiwanese manufacturer of smartphones, a large U.S. retailers and a British luxury automobile manufacturer. The diversity of these new customer engagements illustrates the immense market potential of Lionbridge’s translation and content management solutions as globalization continues to take hold in emerging markets around the planet.
The company set the stage for future growth earlier this month when it announced the acquisition of Geotext Translations, Inc., a privately-held provider of legal translation services. Following this acquisition, Lionbridge is in a strong position to address the growing demand for integrated, high-quality legal translation solutions while gaining access to Geotext’s long-standing relationships with clients in the legal industry.
According to a report by IBISWorld, demand for translations services is on the rise as a result of nonnative English speakers coming to the U.S. and domestic businesses taking products overseas. Currently, the four largest players in the industry, of which Lionbridge is one, have a combined market share of less than 20 percent, further demonstrating the company’s favorable prospects for future growth. Look for Lionbridge to continue building on its expansive customer base while benefitting from its newly-added capabilities following the Geotext acquisition in the months to come.
For more information, visit www.lionbridge.com
