TransPerfect, owned by Puerto Rico-based exec., merges with Semantix
TransPerfect, a provider of language and technology solutions for global business, announced 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.
The deal is said to be worth somewhere in the mid-$90 million, News is my Business learned.
Semantix has a long history in the language industry and has completed several 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, the firm noted.
“We have competed against Semantix in the Nordics for more than 15 years and have admired their leadership position and strong reputation,” said TransPerfect President Phil Shawe, who moved to Puerto Rico in 2019.
Shawe is said to be investing in a $30 million real estate project in Puerto Rico, to build a corporate retreat, meeting, and convention center. He has also purchased and renovated the former French Consulate as a corporate residence in Old San Juan.
“It’s 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,” he said.
The combined company will have the translation industry’s largest global footprint, most diverse customer base, and a headcount of more than 7,500 professionals worldwide, executives said.
“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,” said Semantix CEO Patrik Attemark.
“Merging with TransPerfect is a testament to the successful execution of the transformation of Semantix into a leading language technology company for multilingual services,” he said.
“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,” said Attemark.
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.