Business services provider Lionbridge Technologies Inc. (LIOX) recently renewed its partnership with a leading manufacturer of power and engine systems for an additional six years. Per the agreement, Lionbridge will act as the coveted supplier of global technical publications and will handle the program across its solution centers in the U.S., UK, Germany, the Nordics and India. The projected value of the contract is over $100 million.
The undisclosed client is a premier provider of integrated power systems and services to the civil and defense aerospace, marine and energy markets. It has an extensive customer base including airlines, aircraft and helicopter operators, armed forces and marine and energy customers in more than 80 countries across the globe.
Lionbridge currently provides the client with technical and non-technical services across diverse operations. This new contract is an extension and expansion of the existing program and provides opportunities for further collaboration across other divisions and programs of the company.
To aid its client in delivering exclusive technologies and services, Lionbridge will provide integrated technical authoring and illustration production solutions. This will help generate, control and distribute effective maintenance and support information to its partners and customers worldwide.
Lionbridge’s consistently impressive performance, technical expertise and engineering support will be an advantage for its clients. This partnership reflects a mutual dedication to be at the forefront of technological innovation and excellence in the respective sectors.
Lionbridge’s technical authoring services will provide an edge to its client by stepping up user adoption, shrinking support costs, improving customer loyalty and increasing overall client satisfaction. Technical authoring services convert technical documentation into competitive advantage by writing user-focused product documentation across diverse media. In addition, Lionbridge’s global footprint allows it to deliver cost-effective and culturally appropriate content translation, lowering its clients’ project management and fixed overhead expenses.
Furthermore, Lionbridge has an impressive track record of providing quality illustration services to customers in the aerospace and military industries. Lionbridge, with its established quality control system, processes engineering drawings and a vast range of software tools, is likely to provide efficient service in terms of quality, cost and delivery.
Global businesses are increasingly relying on companies like Lionbridge to augment their international presence, speed up development of global products and content, and reinforce the efficiency of enterprise applications and IT system investments.
Lionbridge has a noteworthy client base of over 800 leading global companies, including some affluent names such as Microsoft Corp. (MSFT), Adobe Systems Inc. (ADBE) and Google Inc. (GOOG). While continuing to nourish its established clientele with innovative offerings, Lionbridge is also seeking expansion in new vertical markets.
We envision the current contract with the undisclosed client to reap huge benefits for this Zacks Rank #3 (Hold) stock and strengthen its position in the market.