Dynamics Group AG (CH)
Zurmont Madison Private Equity L.P. signs agreement to sell CLS Communication Group to Lionbridge Technologies Inc.
Dynamics Group AG / Key word(s): Acquisition Press Release Zurmont Madison Private Equity L.P. signs agreement to sell CLS Communication Group to Zurich, November 14, 2014 – The Zurmont Madison Private Equity L.P. fund (“Zurmont Madison”), advised by Zurmont Madison Management AG, has signed a contract for the sale of CLS Corporate Language Services AG (“CLS Communication”) to publicly-listed, US-based Lionbridge Technologies, Inc. (Nasdaq: LIOX). Following around five years of partnership with Zurmont Madison Private Equity, three international buy & build acquisitions and strong growth in revenues and profitability, CLS Communication Group becomes part of the market leader in global translation and content solutions worldwide. In the middle of the financial crisis in mid-2009, Zurmont Madison invested in the context of a partial buyout of the existing management shareholders into CLS Communication With the integration into Lionbridge Group (www.lionbridge.com), who is present on all continents, CLS Communication becomes part of the world’s largest provider of translation solutions and related technologies. Besides offering general translation services, Lionbridge is mainly active in the area of software localization. Significant clients include corporations such as Microsoft, Google and Hewlett Packard. The two enterprises complement one another perfectly in terms of geographic coverage as well as of core competencies and industry focus. The market position of both brands and their competitive ability is thus being strengthened significantly. The clients of CLS Communication furthermore benefit of an even more attractive offering, new competencies and an increased global presence. Lionbridge will acquire 100 percent of the shares of CLS Communication. The execution of this transaction is expected to take place in January 2015. About Zurmont Madison For further information please contact: 14.11.2014 This Corporate News was distributed by EQS Schweiz AG. www.eqs.com – news archive: http://switzerland.eqs.com/de/News The issuer is responsible for the contents of the release. |
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