LIOX (fav's index)news w/Nortel (they've already signed up Cisco):
Wednesday December 15, 12:10 pm Eastern Time
Company Press Release
SOURCE: Lionbridge Technologies, Inc.
Nortel Networks Selects Lionbridge as the Preferred Vendor for Translation & Localization Services
Multiyear Contract is Estimated to be Language Services Industry's Largest
WALTHAM, Mass., Dec. 15 /PRNewswire/ -- Lionbridge Technologies, Inc. (Nasdaq: LIOX - news), a leading provider of multilingual Internet services to global technology businesses, today announced the signing of an agreement to provide localization and translation to Nortel Networks, a global leader in telephony, data, wireless and wireline solutions for the Internet, and to acquire certain assets currently used by Nortel to localize its products internally. Management believes that the contract, worth an estimated $30 million, is the largest internal localization and translation services agreement in the industry.
Under the contract terms, Lionbridge will acquire a set of localization tools and technology designed by Nortel Networks, and a telecommunications terminology database consisting of more than 30,000 individual terms that have been localized into six languages. In addition, Lionbridge will acquire Nortel Networks' Language Services Operation in Montreal and Ottawa, Canada as well as Sunrise, Florida, as well as Beijing, China; Bogota, Colombia; and Sao Paulo, Brazil, resulting in a total presence of 16 sites in 10 countries. Lionbridge will offer employment to approximately 45 of Nortel Networks' translation and localization employees at these sites who are affected by this agreement.
As part of the agreement, Nortel Networks will award Lionbridge a preferred vendor designation, making Lionbridge the preferred supplier for Nortel Networks' localization programs. Nortel Networks and Lionbridge anticipate working together to further build and define an industry-wide database of localized telephony terminology that they and future telecom industry leaders can leverage.
``In our work for leading telecommunications clients such as Lucent, Nokia, Cisco, Ericsson, Motorola and Qualcomm, we have developed technology and processes that we anticipate will save Nortel Networks both investment and operational expenditures over the term of the agreement,' said Rory Cowan, Lionbridge CEO. ``The application of the LionTrack(TM) workflow system will add momentum to Nortel's global e-business activity.'
``The intellectual capital and the technology from Nortel Networks will enable us to strengthen our full-scale, multilingual solutions and services to the telecommunications industry with greater velocity and precision,' said Peter Wright, Lionbridge Vice President of Worldwide Sales. ``It will also aid us in pursuing larger global programs with major telecommunications firms. In doing so, we'll be accelerating our presence in the telecommunications industry -- broadening our client base and moving ever closer to delivering the technology of the millennium to all languages and cultures.'
``Nortel Networks will award this contract to Lionbridge because of its broad expertise in the telecommunications industry,' said Trina Mullen, VP Customer Information and Training Services for Nortel Networks. ``Lionbridge has developed industry-scale solutions that integrate its processes, technology and translation with proprietary workflow systems that will result in ongoing cost reductions in future years of our relationship.'
About Lionbridge Technologies
Lionbridge Technologies provides testing, localization, internationalization and other globalization and multilingual Internet services to the world's leading technology companies, including Cisco, IBM, Microsoft, Motorola, Novell, Oracle, and Sun Microsystems. Lionbridge's multilingual eRelease, eSupport, eLearning and eCommerce services are based on its Rapid Globalization Methodology (TM). The Rapid Globalization Methodology (TM) integrates engineering, linguistics, testing, and project management with automated workflow management to enable simultaneous worldwide release, via the Internet, of products as well as related customer support, training, and marketing materials. Based in Waltham, Massachusetts, Lionbridge maintains facilities in Ireland, The Netherlands, France, China, Korea and Japan. To learn more, visit lionbridge.com. |
