#New Zealand #Auckland #European Union #Straker Limited #Translation Services

Straker Limited Secures EU Translation Contract

Straker Limited, listed on the Australian Stock Exchange under the ticker STG, is thrilled to announce a newly secured contract with the European Union's Translation Centre for the EU Institutions (CdT). This agreement marks a significant milestone in Straker's journey and showcases their capabilities as a leader in AI-driven translation solutions.

Overview of the Contract

The contract primarily focuses on providing translation and post-editing services, specifically translating texts from English to French. Given the complexity and the demand for accurate translation services within European institutions, this partnership is seen as a testament to Straker's robust technological infrastructure and linguistic expertise.

• - Contract Value: Estimated at €525,000 (approximately NZD 1.06 million based on current exchange rates).
• - Duration: The initial contract period is set for 12 months, with automatic renewals available for up to 36 additional months, leading to a potential total duration of 48 months. The terms allow either party to terminate the contract, provided they notify the other party at least three months before the contract's end.

CEO's Statement

Grant Straker, the CEO and co-founder of Straker Limited, expressed his enthusiasm regarding the partnership: “The European Union has been, intermittently, a valuable client of Straker since 2022. We are pleased to continue our relationship through this agreement, which reaffirms both our technological leadership and our proven ability to meet the demanding linguistic and compliance needs of EU institutions.”

Transparency Disclosure

In accordance with standard corporate governance practices, Straker confirms that this announcement contains all relevant information necessary to assess the impact of the contract and does not omit any critical details. Transparent communication with stakeholders is vital, and Straker is committed to ensuring all information is disclosed appropriately.

About Straker Limited

Straker Limited offers cutting-edge linguistic services, powered by advanced technological platforms and strong artificial intelligence capabilities. With a focus on combining the latest technologies with linguistic expertise, Straker’s solutions are designed to be scalable, cost-effective, and precise. Their commitment to technological innovation and data analysis positions them as a trusted partner for ensuring the success of global communications.

As a key player in the translation industry, Straker is proud to service clients around the globe, helping them navigate the complexities of multilingual communication in today's interconnected world. The company invites stakeholders and interested parties to learn more about their offerings by visiting their official website at www.straker.ai. Additionally, they encourage interested parties to subscribe to their investor news alerts for the latest updates.

In conclusion, this new contract with the EU reinforces Straker Limited's position in the translation sector and highlights the growing importance of AI in driving effective language solutions across international borders.