New York-based TransPerfect, a company that offers language and technology solutions for global business, announced on Monday that it has acquired London-based Sterling Technology, a provider of virtual data room (VDR) solutions for M&A, corporate development, capital markets, and private capital. The financial terms of the deal have not been disclosed.
TransPerfect President and CEO, Phil Shawe, says, “We have admired Sterling’s strong reputation and leadership position in Europe. It is exciting to have them as part of our global team, and I have no doubt we will achieve great things for our clients. We welcome everyone at Sterling to the TransPerfect family.”
Premium virtual data room solutions provider
Sterling Technology claims to be the leading European provider of virtual data room (VDR) solutions. A virtual data room is an informational database that is accessible online and used to store and share materials. It is frequently used to speed up the due diligence procedure during an M&A deal, loan syndication, or private equity or venture capital deal.
Sterling has been supporting the capital and M&A markets for over 30 years, initially with financial printing services. Since opening its first VDR in 2010, the firm has helped customers and users from over 187 countries and 90 industries complete thousands of deals.
Aim of this acquisition
Sterling Technology’s CEO, Geoff Keating, mentions that the acquisition will grow the company in becoming the leading European provider of virtual data room solutions. The shareholders and leadership team of Sterling believe that TransPerfect is the ideal strategic new owner for the business.
Keating says, “Being part of a much larger, successful global enterprise will provide increased growth opportunities for our business and employees as well as access to new markets. For our customers and users, Sterling will continue to deliver the same premium virtual data room solutions and service excellence they expect from us.”
With this deal, Geoff Keating, along with the remainder of the company’s leadership, will join TransPerfect’s senior management team. Since taking over as CEO in 2008, Keating has led the company’s ascent to its market-leading position both before and after its separation from Sterling Financial Print.
Brief about TransPerfect
Founded in 1992, TransPerfect aims to provide the highest quality language services to leading organisations worldwide. The company, which began as a two-person firm working out of a dorm room, has spent almost three decades helping its clients to solve business difficulties.
In 2018, Phil Shawe acquired the shares of his co-founder, to bring the business into a new age with a focus on growth and innovation. Today, TransPerfect has offices in over 100 cities on six continents and offers a full range of services in 200+ languages to clients globally. It has over 6,000 employees and a network of over 10,000 certified linguists and subject-area specialists, all dedicated to helping clients overcome business challenges.
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