Auckland, New Zealand – Straker Translations Limited (ASX: STG), a leading global technology driven translation services platform, is pleased to announce the signing of a binding agreement to acquire COM Translations Online S.L. (COM) in an all-cash deal.
Overview of COM
COM, headquartered in Madrid and with an office in Los Angeles, is a media and audio-visual translations company that provides transcription, subtitling and voice over translation services to global blue-chip content and media companies.
The company translates media assets into over 50 language pairs and has translated over 1,400 movies, 7,400 episodes and 800,000 subtitle minutes. COM has a team of 20 employees across offices in Madrid and Los Angeles and generated revenue in the range between NZ$1.4 million to NZ$1.8 million annually over the last three years.
An attractive acquisition that accelerates Straker’s organic growth
Commenting on the acquisition, CEO Grant Straker said: “Straker has established itself as a leading global technology driven translation services platform. The business has a clear five-point growth strategy, and an important part of that strategy is to seek out targeted acquisitions that complement and accelerate our organic growth.
“The acquisition of COM is a logical extension for Straker as it supports our immediate expansion into media and audio-visual translation capabilities, while also growing Straker’s portfolio of global blue-chip clients. We see tremendous opportunities for Straker’s technology to be applied in the media and audio-visual translation market. While currently small, we see substantial potential for COM and we will adopt the same approach to growth and integration that we used successfully with prior acquisitions.”