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Language interpreter Language Line Services withdraws $400 millin IPO

By: Renaissance Capital
Posted: 4/30/2013 9:15:00 AM
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Language Line Services, which provides on-demand language interpretation services, supporting over 170 languages, withdrew its plans for an initial public offering on Monday. The company had last filed an updated amendment in March 2010. The Monterey, CA-based company was founded in 1999 and booked $299 million in sales for the 12 months ended 12/31/2009.  Morgan Stanley, Credit Suisse, and BofA Merrill Lynch were set to be the joint bookrunners on the deal.