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TransPerfect Enters into Merger Agreement with Iverson Language Associates
NEW YORK and MILWAUKEE, DECEMBER 1, 2008 – TransPerfect, the world's largest privately-held language services provider, today announced that it has completed a merger with Iverson Language Associates, a Milwaukee-based provider of technical translation services. The transaction expands TransPerfect's presence in the United States, adding Milwaukee to the company's 30+ North American locations. Financial terms of the deal were not disclosed.
Iverson will become a division of TransPerfect and will continue to be led by Founder and President Steven Iverson, who will join the TransPerfect senior management team. Steven Iverson is a 22-year veteran of the localization industry, as well as a founding member and current board member of the Association of Language Companies (ALC). The business will continue to operate in its present office location and all full-time employees are expected to remain with the company.
Iverson stated, "We are thrilled to be joining not only our industry's most financially stable large-scale organization, but also an organization that has proven itself to be dedicated to long-term employee and client retention. We at Iverson will continue to provide our clients with the quality and service they've come to expect, while TransPerfect will provide us access to the resources of a truly global organization."
Liz Elting, President and CEO of TransPerfect, added, "Having followed the growth of Iverson Language Associates over the years, we've developed a great deal of respect for Steve and the Iverson team. We share their commitment to quality and client service, and we're honored to welcome them to the TransPerfect family of companies."
Founded in 1986 and based in Milwaukee, Wisconsin, Iverson Language Associates, Inc. provides strategic solutions for managing document translation. Our clients are companies and organizations that recognize the value of a strategic approach to managing their language needs. For more information, please visitwww.iversonlang.com.
TransPerfect is a family of companies including TransPerfect Translations, Translations.com, and Deal Interactive, as well as specialized Staffing, Deposition Services, Document Management, Transcriptions, and Multicultural Marketing divisions. With 2008 revenue on pace to exceed $200 million and more than 1,000 full-time employees, TransPerfect is the largest privately held language service provider in the world. From over 50 offices on 4 continents, TransPerfect offers a full range of services in over 100 languages to multinationals worldwide. These services include translation, interpretation, transcription, multilingual typesetting/graphic services, staffing solutions, website globalization, software localization, subtitling/voiceovers, multicultural marketing, document management, and litigation support. With a network of over 4,000 linguists and subject-area specialists worldwide, TransPerfect is the largest translation company to be fully ISO 9001:2000 certified. TransPerfect is headquartered in New York and has regional headquarters in London and Hong Kong. For more information, please visit our websites at www.transperfect.com and www.translations.com.