Lingotek Acquired by Straker Translations
Sellside Advisor To Lingotek
CHARLOTTE, NC — 7 Mile Advisors is pleased to announce that Lingotek, a Utah-based translation management system (TMS) and language services provider (LSP), has been acquired by Straker Translations, a New Zealand-based LSP. Straker is listed on the Sydney stock exchange (ASX: STG) and executed a cash-and-stock deal. 7 Mile Advisors acted as the exclusive sellside advisor to Lingotek throughout the transaction.
“7 Mile had the pleasure of representing Lingotek, one of the most technologically advanced, SaaS-based translation management and language services providers in the world, and its investor, Signal Peak Ventures, to identify a partner capable of supporting further global expansion. Lingotek’s technology will be immediately accretive to the Straker platform,” said Tim Frye, Senior Director at 7 Mile Advisors.
Lingotek was founded in 2006 as an early entrant into the cloud-based TMS space. About 40% of Lingotek’s revenue is from SaaS subscriptions for the company’s translation management system, the remainder is from language services. In 2019 Lingotek announced a strategic Digital Marketing and UX/UI Partnership with Oracle that included integration with Oracle Content and Experience, participation in the Oracle Cloud Marketplace, and connectors to Eloqua and WebCenter Content and Sites. Lingotek Founder and CEO, Jeff Labrum, will join the Straker leadership team along with other key senior Lingotek executives such as Nick Ramond, CTO, Brad Ross, Director of Product, and Greg Larsen, Director of Revenue.
The acquisition consolidates and extends Straker’s presence in the multi-billion-dollar U.S. translation market, establishing new relationships with 20 global enterprises, including Oracle, Nike, and Acquia. It also offers Straker acquisition synergies, including the gains that will come from the integration of the AI-powered RAY translation platform into Lingotek.
“Lingotek offers similar potential to the recent IBM strategic partnership. It represents a fantastic opportunity to acquire enterprise customers, SaaS revenue, a US-based team of enterprise salespeople and an in-market tech team,” said Straker CEO, Grant Straker.
“It is with great anticipation that Lingotek joins Straker Translations. Lingotek’s suite of advanced translation technology will dovetail into Straker’s world-leading RAY Ai-powered translation platform, ensuring RAY remains the most advanced technology platform in the industry. Combining our technology and strategic customer relationships with RAY, as well as Straker’s global service offering, will help underpin Straker’s ongoing growth, particularly in the US,” added Lingotek CEO, Jeff Labrum.
7 Mile Advisors continues to see a robust M&A appetite from both strategic acquirors and private equity investors across the Tech-enabled Business Services ecosystem. This acquisition is one of 18 transactions the firm has closed since April of 2020, supporting that view. For more details on M&A trends during the COVID-19 pandemic, listen to recent podcast episodes that 7 Mile has produced on this topic.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, as well as provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
Lingotek’s Translation Network is the only cloud-based SaaS solution to connect all an organization’s global content in one place, giving them the power to manage their brand worldwide. Our industry-leading technology pairs with the best enterprise applications to continuously push dynamic multilingual content to all of their global markets. For more information, visit lingotek.com.
Straker is revolutionizing the translation industry by offering faster, easier, and far more cost effective translations with their unique per-hour translation model and advanced translation platform. Find out why thousands of global companies have switched to Straker as their translation partner including the Huffington Post, Caterpillar, Milwaukee Tools, and many others. With offices in the USA, Canada, UK, Germany, Spain, Singapore, Australia, and New Zealand they offer truly global coverage and 24/7 support through our global production centres. For more information, visit www.strakertranslations.com.