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TransPerfect Achieves Revenue Growth in 2024

TransPerfect, the world’s largest provider of language and AI solutions for global business, has officially reported its billed revenues for 2024, reaching an impressive $1.23 billion. This marks a 3% increase compared to the previous year, or approximately $35 million in additional revenue, showcasing the company's sustained growth trajectory.

Founded in 1992, TransPerfect has successfully marked 2024 as its 32nd consecutive year of growth in revenues, remaining under the same management throughout this period. This consistent performance can be attributed to various successful initiatives undertaken by the company, particularly within divisions that specialize in AI and technology touchpoints.

Key Growth Areas

Among the various divisions of TransPerfect, the DataForce division, specializing in AI consulting and data annotation, has emerged as a significant contributor to the overall growth revenues in 2024. Furthermore, GlobalLink, the company’s flagship technology suite focused on multilingual content management and translation automation, also exhibited strong performance, recording double-digit growth in licensing revenues for the year.

Key sectors such as TransPerfect Legal, which focuses on eDiscovery and litigation support, and TransPerfect Connect, a division providing business process outsourcing solutions for contact centers, also saw robust growth in their respective domains.

In conjunction with this revenue milestone, TransPerfect achieved the remarkable feat of employing its 10,000th full-time staff member, underscoring its commitment to growth and expansion.

Leadership Insight

In light of the company’s progress, Phil Shawe, President and Co-CEO of TransPerfect, expressed enthusiasm about these developments: “These are exciting times. The faster we can offer our clients technology innovations for creating and delivering global content, the quicker these solutions are adopted by our customers. I’m proud of our team for always keeping our clients on the cutting edge of technological advances—this has been a key catalyst for growth over the past decade.”

Future Implications and Acquisitions

Looking forward, the company anticipates that MA (mergers and acquisitions) will play a crucial role in its growth in 2025. Recently, TransPerfect announced several strategic acquisitions across various industries, including:

• - H2A, a leading French contact center solutions provider
• - SPEEECH, a media localization studio based in Munich
• - Blu Digital, a provider of end-to-end digital media solutions situated in Los Angeles
• - Apostroph, a language service provider known in Germany and Switzerland
• - Technicolor Games, The Mill, and MPC, longstanding divisions of the renowned Technicolor Group
• - Bear Down Studios, a specialized gaming art studio based in Kuala Lumpur, Malaysia

Each of these acquired companies will retain their leadership and staff, joining TransPerfect as distinct divisions, ensuring that existing customers experience seamless continuity in service.

Financial Position and Future Strategy

The company also recently secured a refinancing deal on favorable terms that bolsters its performance expectations and mitigates market uncertainties. Shawe recognized the effort of their lending group, composed of Bank of America, Citibank, and JPMorgan Chase Bank, stating, “Our new credit facility mitigates market uncertainties, supports organic growth, and gives us ample dry powder for strategic acquisitions.”

This refinancing will allow TransPerfect to pursue its ambitious plans while solidifying its position within the market amidst a rapidly evolving industry landscape.

About TransPerfect

TransPerfect stands as the world’s foremost provider of language and AI solutions for global business. Operating from more than 140 offices across six continents, the firm offers a full suite of services in over 200 languages to a wide array of global clients. With over 6,000 organizations utilizing TransPerfect’s innovative GlobalLink® technology to streamline multilingual content management, the company remains dedicated to quality and exceptional client service. Operating with full ISO 9001 and ISO 17100 certifications, TransPerfect has its headquarters in New York, with regional offices in London and Hong Kong. For more information about their services, visit TransPerfect’s website.