OREANDA-NEWS. Lionbridge Technologies, Inc. (Nasdaq: LIOX), the market leader in translation and digital content services, today announced the stockholder approval and closing of the previously announced acquisition of Lionbridge by an affiliate of H.I.G. Capital, LLC (H.I.G.), a leading private equity firm. Under the terms of the acquisition agreement, Lionbridge stockholders are entitled to receive $5.75 in cash for each share of Lionbridge common stock they hold.

With the completion of the transaction, shares of Lionbridge common stock will no longer be listed on Nasdaq, and trading in Lionbridge shares will be suspended. Lionbridge is now a privately-held company and part of the portfolio of H.I.G. companies.

The proposal to adopt the merger agreement received the affirmative vote of the holders of a majority of the outstanding shares of Lionbridge common stock entitled to vote on the transaction. According to the final voting results, approximately 75.6% of the outstanding shares of common stock of Lionbridge, as of the close of business on January 27, 2017, the record date, voted and 91.3% of such shares voted in favor of the merger agreement.

All approvals, consents or consultations required to consummate the merger, including those under U.S. and international antitrust laws have been obtained or made, and accordingly, the related conditions to the consummation of the merger set forth in the merger agreement have been fully satisfied.

Union Square Advisors LLC acted as exclusive financial advisor to Lionbridge and provided a fairness opinion to the special committee of the Board of Directors of Lionbridge. Credit Suisse Securities (USA) LLC acted as lead financial advisor to H.I.G. in connection with the proposed transaction. Goodwin Procter LLP acted as legal advisor for Lionbridge, and Kirkland & Ellis acted as legal advisor to H.I.G.