Lionbridge announces new agreements

Lionbridge Technologies Inc. of Waltham said it has signed agreements that should generate between $70 million and $90 million in revenue over several years, including $25 million to $30 million in its fiscal 2009.

The agreements are with organizations in the aerospace, technology, life sciences, and services industries, said Lionbridge, which provides globalization, development, and testing services.

With annual revenues of about $460 million and a worldwide head count of 4,600 employees, Lionbridge said it may be benefitting from the tough economy; as companies look to cut costs, they often outsource functions once performed in-house, and such decisions can help Lionbridge, which provides many outsourced services.

"Lionbridge is becoming the outsourcing partner of choice as companies seek a partner with financial strength and stability and a proven track record of quality," Lionbridge chief executive Rory Cowan said in a statement. "In the past few months, we have seen our new business opportunities accelerate. This puts us on firm footing as these programs ramp up in 2009."

To read the company's press release, please click here.
(By Chris Reidy, Globe staff)