Glenhill Advisors Dumps Lionbridge Technologies Inc (LIOX)

Glenn J. Krevlin‘s Glenhill Advisors has dumped most of its stake in Lionbridge Technologies Inc (NASDAQ:LIOX). According to a recently amended filing with the Securities and Exchange Commission, the fund currently holds 673,929 shares of the stock, down from 8.39 million shares reported in its 13F filing for the September 30 reporting period. As a result, Glenhill owns just 1.1% of Lionbridge’s common stock.

A provider of business support services, Lionbridge Technologies Inc (NASDAQ:LIOX) has agreed to be taken over by private-equity firm H.I.G Capital, in a deal worth $360 million or $5.75 per share, so it’s not surprising to see some funds sell out of the stock ahead of the completion of that deal. Lionbridge CEO and founder Rory Cowan welcomes the change, stating that private equity is a “far more efficient capital partner than public markets.” Immediately after the announcement, several law firms initiated investigations into the deal. Question marks were raised with regard to the Board’s decision to accept the offer that will see shareholders get $5.75 per share under the terms of the deal, while at least one analyst had set a price target of $7 per share on the stock.

Glenn Krevlin

Hedge fund sentiment towards Lionbridge Technologies Inc (NASDAQ:LIOX) was unchanged during the third quarter of last year. At the end of September, the stock could be found in the portfolios of 17 of the funds followed by Insider Monkey, which amassed 23.6% of the company’s outstanding stock. Glen Capital Partners, run by Gregory Summe, held a major position in the equity, owning 3.65 million shares at the end of the third quarter. Jim Simons‘ Renaissance Technologies reduced its holding in the stock by 15% during the quarter, ending the period with 494,900 shares.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Glenhill Advisors 673,929 0 673,929 0 673,929 1.1%
Glenn J. Krevlin 673,929 0 673,929 0 673,929 1.1%
Glenhill Capital Advisors 0 673,929 0 673,929 673,929 1.1%
Glenhill Capital Management 0 673,929 0 673,929 673,929 1.1%
Glenhill Capital Overseas Master Fund 0 0 0 0 0 0%

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Page 1 of 10 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under
the Securities Exchange Act of 1934

(Amendment No. 13)*

Lionbridge Technologies, Inc.

(Name of Issuer)

Common
Stock

(Title of Class of Securities)

536252109

(CUSIP Number)

January 5, 2017

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to
designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)


Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

Page 2 of 10 – SEC Filing


CUSIP No. 536252109
  1 

Names
of Reporting Persons

Glenhill Advisors, LLC

  2

Check the Appropriate Box if a
Member of a Group (See Instructions)

(a)  ☐        (b)  ☒

  3

SEC Use Only

  4

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

Sole Voting Power

673,929

6

Shared Voting Power

0

7

Sole Dispositive Power

673,929

8

Shared Dispositive Power

0

  9

Aggregate Amount Beneficially Owned by Each Reporting Person

673,929

10

Check if the Aggregate Amount in
Row (9) Excludes Certain Shares (See Instructions)  

11

Percent of Class Represented by
Amount in Row (9)

1.1%

12

Type of Reporting Person (See
Instructions)

IA, HC

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Page 3 of 10 – SEC Filing


CUSIP No. 536252109
  1 

Names
of Reporting Persons

Glenn J. Krevlin

  2

Check the Appropriate Box if a
Member of a Group (See Instructions)

(a)  ☐        (b)  ☒

  3

SEC Use Only

  4

Citizenship or Place of
Organization

United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

Sole Voting Power

673,929

6

Shared Voting Power

0

7

Sole Dispositive Power

673,929

8

Shared Dispositive Power

0

  9

Aggregate Amount Beneficially Owned by Each Reporting Person

673,929

10

Check if the Aggregate Amount in
Row (9) Excludes Certain Shares (See Instructions)  

11

Percent of Class Represented by
Amount in Row (9)

1.1%

12

Type of Reporting Person (See
Instructions)

IN, HC

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Page 4 of 10 – SEC Filing


CUSIP No. 536252109
  1 

Names
of Reporting Persons

Glenhill Capital Advisors, LLC

  2

Check the Appropriate Box if a
Member of a Group (See Instructions)

(a)  ☐        (b)  ☒

  3

SEC Use Only

  4

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

Sole Voting Power

0

6

Shared Voting Power

673,929

7

Sole Dispositive Power

0

8

Shared Dispositive Power

673,929

  9

Aggregate Amount Beneficially Owned by Each Reporting Person

673,929

10

Check if the Aggregate Amount in
Row (9) Excludes Certain Shares (See Instructions)  

11

Percent of Class Represented by
Amount in Row (9)

1.1%

12

Type of Reporting Person (See
Instructions)

IA, HC

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Page 5 of 10 – SEC Filing


CUSIP No. 536252109
  1 

Names
of Reporting Persons

Glenhill Capital Management, LLC

  2

Check the Appropriate Box if a
Member of a Group (See Instructions)

(a)  ☐        (b)  ☒

  3

SEC Use Only

  4

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

Sole Voting Power

0

6

Shared Voting Power

673,929

7

Sole Dispositive Power

0

8

Shared Dispositive Power

673,929

  9

Aggregate Amount Beneficially Owned by Each Reporting Person

673,929

10

Check if the Aggregate Amount in
Row (9) Excludes Certain Shares (See Instructions)  

11

Percent of Class Represented by
Amount in Row (9)

1.1%

12

Type of Reporting Person (See
Instructions)

IA, HC

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Page 6 of 10 – SEC Filing


CUSIP No. 536252109
  1 

Names
of Reporting Persons

Glenhill Capital Overseas Master Fund, LP

  2

Check the Appropriate Box if a
Member of a Group (See Instructions)

(a)  ☐        (b)  ☒

  3

SEC Use Only

  4

Citizenship or Place of
Organization

Cayman

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

Sole Voting Power

0

6

Shared Voting Power

0

7

Sole Dispositive Power

0

8

Shared Dispositive Power

0

  9

Aggregate Amount Beneficially Owned by Each Reporting Person

0

10

Check if the Aggregate Amount in
Row (9) Excludes Certain Shares (See Instructions)  

11

Percent of Class Represented by
Amount in Row (9)

0%

12

Type of Reporting Person (See
Instructions)

PN

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Page 7 of 10 – SEC Filing


Item 1(a). Name of Issuer:

Lionbridge Technologies, Inc.

Item 1(b). Address of Issuers Principal Executive Offices:

1050 Winter Street

Waltham, MA 02451

Item 2(a). Name of Person Filing:

Glenhill Advisors, LLC, Glenn J. Krevlin, Glenhill Capital
Advisors, LLC, Glenhill Capital Management, LLC and Glenhill Capital Overseas Master Fund, LP.

Glenn J. Krevlin is the managing member
and control person of Glenhill Advisors, LLC, and is the sole shareholder of Krevlin Management, Inc. Krevlin Management, Inc. is the managing member of Glenhill Capital Advisors, LLC, which is the investment manager of Glenhill Capital Overseas
Master Fund, LP and Glenhill Concentrated Long Master Fund, LLC (each of which was a security holder of the Issuer), and the investment manager of Glenhill Long Fund, LP which is currently (along with Mr. Krevlin) a security holder of the Issuer.
Glenhill Advisors, LLC is the managing member of Glenhill Capital Management, LLC. Glenhill Capital Management, LLC is the managing member of Glenhill Concentrated Long Master Fund, LLC and Glenhill Long GP, LLC, and is sole shareholder of Glenhill
Capital Overseas GP, Ltd. Glenhill Capital Overseas GP, Ltd. is the general partner of Glenhill Capital Overseas Master Fund, LP. Glenhill Long GP, LLC is the general partner of Glenhill Long Fund LP.

Glenhill Capital Advisors, LLC is also the investment manager for certain third party accounts for which shares of the Issuer were held and
managed by one or more of the Reporting Persons for the benefit of such third parties. Such Reporting Persons had dispositive power and shared certain voting power with respect to such shares, and received management fees and performance-related
fees in connection therewith. As of the date of this filing, there are no shares of Common Stock of the Issuer held in such third party managed accounts.

Item 2(b). Address of Principal Business Office or, if none, Residence:

600 Fifth Avenue, 11th
Floor

New York, NY 10020

Item 2(c). Citizenship:

See the response(s) to Item 4 on the attached cover page(s).

Item 2(d). Title of Class of Securities:

Common Stock

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Page 8 of 10 – SEC Filing


Item 2(e). CUSIP Number:

536252109

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

Not Applicable

Item 4. Ownership.

Provide the following information regarding the aggregate number and percentage of the
class of securities of the issuer identified in Item 1:

(a) Amount Beneficially owned:
See the response(s) to Item 9 on the attached cover page(s).
(b) Percent of Class:
See the response(s) to Item 11 on the attached cover page(s), which was determined by dividing the number of shares beneficially held by the Reporting Person by 61,503,253, the number of shares of common stock issued
and outstanding as reported in the Issuers Form 10-Q filed with the Securities and Exchange Commission on November 8, 2016.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:

See the response(s) to Item 5 on the attached cover
page(s).

(ii) Shared power to vote or to direct the vote:

See the response(s) to Item 6 on the attached
cover page(s).

(iii) Sole power to dispose or to direct the disposition of:

See the response(s) to Item 7 on the
attached cover page(s).

(iv) Shared power to dispose or to direct the disposition of:

See the response(s) to Item 8 on the
attached cover page(s).

Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to
report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following  ☒.

Item 6. Ownership of More Than Five Percent on Behalf of Another Person.

Not Applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable.

Item 8. Identification and Classification of Members of the Group.

Not Applicable.

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Page 9 of 10 – SEC Filing


Item 9. Notice of Dissolution of Group.

Not Applicable.

Item 10. Certifications.

By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as
a participant in any transaction having that purpose or effect.

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Page 10 of 10 – SEC Filing


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DATE:       January 13, 2017

GLENHILL ADVISORS, LLC
By: /s/ GLENN J. KREVLIN
Name: Glenn J. Krevlin
Title: Managing Member
/s/ GLENN J. KREVLIN
Name: Glenn J. Krevlin
GLENHILL CAPITAL ADVISORS, LLC
By: KREVLIN MANAGEMENT, INC.
Managing Member
By: /s/ GLENN J. KREVLIN
Name: Glenn J. Krevlin
Title: President
GLENHILL CAPITAL MANAGEMENT, LLC
By: GLENHILL ADVISORS, LLC
Managing Member
By: /s/ GLENN J. KREVLIN
Name: Glenn J. Krevlin
Title: Managing Member

GLENHILL CAPITAL OVERSEAS MASTER

FUND, LP

By: GLENHILL CAPITAL OVERSEAS GP, LTD.
General Partner
By: GLENHILL CAPITAL MANAGEMENT, LLC
Sole Shareholder
By: GLENHILL ADVISORS, LLC
Managing Member
By: /s/ GLENN J. KREVLIN
Name: Glenn J. Krevlin
Title: Managing Member

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