AVEVA Selects Lionbridge to Create Scalable Offshore Development Center
WALTHAM, Mass., Feb. 7, 2006 -- Lionbridge Technologies, Inc., (Nasdaq: LIOX), today announced that AVEVA, a provider of engineering IT solutions and services to the oil and gas, paper and pulp, power, chemical, pharmaceutical and shipbuilding industries, has selected Lionbridge for a comprehensive offshore development program. With the agreement, Lionbridge will manage a dedicated team of developers, located in the Lionbridge Chennai solution center, that will provide application support and development services for AVEVA's Vantage Plant Design, Vantage Plant Engineering, Vantage Enterprise Net and Vantage Project Resource Management product groups.
The Lionbridge program in Chennai will support AVEVA's commitment to develop and enhance the applications in the Plant Design and Shipbuilding domains based on Microsoft's .Net technology. These will deliver new levels of productivity, interaction and information sharing for AVEVA customers.
"Lionbridge brings deep expertise in applications outsourcing and a track record of driving high quality results for their clients," said Richard Longdon, CEO of AVEVA. "By relying on Lionbridge for high quality, scalable offshore development, we can grow our operations and continue our investment in new technologies. This will enable AVEVA to expand our market-leadership position and increase efficiencies."
Serving over 1500 clients, AVEVA provides engineering technology and services that enable customers to build power, marine and oil and gas plants around the world. At current estimates, AVEVA customers plan to build forty-four offshore developments, thirteen refineries, twenty-seven LNG plants and eleven petrochemical plants over the next 10 years. In addition, around one third of all new ships are designed using AVEVA's technology.
"This program with AVEVA, a marquis International engineering services company, reflects the increasing diversity of Lionbridge's client base and the power of our global outsourcing model to enable organizations like AVEVA to optimize their existing resources and improve productivity," said Satish Maripuri, COO of Lionbridge. "This relationship speaks to the value Lionbridge continues to provide for global companies that are driving market leadership and increasing customer satisfaction worldwide."
About Lionbridge
Lionbridge Technologies, Inc. (Nasdaq: LIOX) is a leading provider of globalization and testing services. Lionbridge combines global resources with proven program management methodologies to serve as an outsource partner throughout a client's product and content lifecycle -- from development to globalization, testing and maintenance. Global organizations in all industries rely on Lionbridge services to increase international market share, speed adoption of global products and content, and enhance their return on enterprise applications and IT system investments. Based in Waltham, Mass., Lionbridge now maintains more than 50 solution centers in 25 countries and provides services under the Lionbridge and VeriTest brands. To learn more, visit http://www.lionbridge.com .
About AVEVA Group plc
AVEVA Group plc is one of the world's foremost and fastest-growing lifecycle engineering IT solutions and services providers to the oil and gas, paper and pulp, power, chemical, pharmaceutical and shipbuilding industries. Listed on the London Stock Exchange (LSE:AVV), the Group reported, for the year ended March 2005, a growth in turnover of 51% over 2004. The Group has grown consistently since 1967 on the strength of pioneering engineering technology that protects the information assets of its customers from the volatile nature of the IT industry. Headquartered in Cambridge, England, AVEVA Group plc and its operating subsidiaries currently employ more than 500 staff worldwide with offices in England, Australia, China, France, Germany, Hong Kong, India, Italy, Japan, Malaysia, Norway, Russia, Saudi Arabia, Singapore, Sweden, South Korea, Canada and the USA.