Under the terms of the deal, Waltham, Massachusetts-based Lionbridge will pay approximately $21.3m to acquire Mumbai-based Mentorix, which will include $7m in cash. Privately held Mentorix employs some 700 people, and provides a range of e-learning services including content development, program management, and application development, and maintenance services.
At the same time, Lionbridge increased its guidance for the full year 2003 to include the Mentorix purchase, where it expects revenue to be between $141m and $143m, up from its previous guidance of $118m, and net profit to be between $7.5m and $8.5m, up from previous guidance of between $4m and $8m. The company said that organic revenue growth would account for an increase of some $10m above previous guidance of 19% organic growth.
Source: ComputerWire
