NEW YORK and STOCKHOLM, Sweden, July 30, 2021 (GLOBE NEWSWIRE) -- TransPerfect, the world’s largest provider of language and technology solutions for global business, today announced that it will merge operations with Semantix, the Nordics’ largest provider of translation and interpretation services, through the acquisition of the group's parent entity, Semantix International Group AB. Financial terms of the transaction were not disclosed.
Semantix has a long history in the language industry and has completed numerous acquisitions in the Nordics that have propelled it to become the region's largest language solutions organization by revenue. Semantix will operate as a division within the TransPerfect family of companies and will continue to be led by its current management team.
TransPerfect President and CEO Phil Shawe stated, “We have competed against Semantix in the Nordics for more than 15 years and have admired their leadership position and strong reputation. It is exciting to have them as part of our rapidly growing global team and to work together to achieve great things for our customers. We welcome everyone at Semantix to the TransPerfect family, which will be a homecoming for some staff members who have worked with TransPerfect in the past.”
The combined company will boast the translation industry's largest global footprint, most diverse customer base, and a headcount of more than 7,500 professionals worldwide. In keeping with TransPerfect's M&A strategy, the TransPerfect–Semantix enterprise will focus on growing both businesses by sharing expertise and resources to better serve customers.
Semantix CEO Patrik Attemark commented, “After seeing TransPerfect's track record from afar, it was refreshing to learn during diligence that our management teams were already so like-minded in their approach to the business. Merging with TransPerfect is a testament to the successful execution of the transformation of Semantix into a leading language technology company for multilingual services. While Semantix is the market leader in the Nordics, we feel that access to TransPerfect's global presence, expansive resources, and market-leading technology offerings will allow us to better service our clients on a global scale.”
Language Solutions CBO Britta Aagaard, who joined Semantix in 2017 through the acquisition of her company, TextMinded, added, “In my four years with Semantix, we have made it a point to adopt philosophies of professional localization management, customer focus, and technology innovation that are very much in line with TransPerfect's approach. I can think of no better partner with whom to write the next chapter of Semantix's history, and I'm excited that we can now offer additional high-quality services to our global customers.”
TransPerfect was advised on the deal by CDX Advisors and law firms Baker Botts and Vinge. Semantix’s majority shareholder, Segulah Fund V, was represented by William Blair International and Kanter Advokatbyrå.
Semantix is the leading language services company in the Nordics, offering a broad range of multilingual services within translation and interpreting. We have partnered with our customers for more than 50 years, to make them shine in any language. Semantix has 320 employees and a network of thousands of language specialists around the globe. Semantix operates in accordance with certified quality and security standards according to ISO 9001, 17100, 27001, and 14001. The company is headquartered in Stockholm, with additional operations in Sweden, Denmark, Finland, Norway, Spain, and Croatia. www.semantix.com
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 100 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. More than 5,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.
Segulah, whose mission statement reads “We invest in the backbone of modern society”, is a private equity firm focused on mid-market buyouts in the Nordic region. We solely invest within three verticals – B2B services, light manufacturing, and IT and technology services – areas in which team members have a long-standing and proven track record. Opportunities are targeted in markets benefitting from macro trends which the team has identified as particularly relevant for the Nordic region, including investments in smart urbanisation and infrastructure renewal, the increased modernisation and automation of industries, as well as the improvement of production and service-delivery efficiency via digitalisation. Our business model builds on active ownership where we add capital, industrial competence and strategic focus. Segulah Advisor AB is the exclusive investment advisor to the funds Segulah IV, Segulah V and Segulah VI.
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