Irish interpreting software firm, TRANSLIT, has announced that it has been acquired by UK-based Valorem Group. As part of the deal, TRANSLIT will merge with fellow Valorem Group member and interpreting services provider, DA Languages.
The Group stated that through the deal, DA Languages will be able to leverage Translit’s remote simultaneous interpreting platform for its clients, and Translit will now use the DA Languages solutions, “which include OPI and VRI platforms, linguist app, booking and scheduling.”
While the Group declined to share the purchase price or multiples paid for TRANSLIT, it stated that the company’s “impressive growth trajectory” caught the Group’s attention. TRANSLIT — which specializes in remote interpreting technology for governments, enterprises, and LSPs — tripled revenue in both 2022 and 2023 thanks to several public sector contracts in Ireland.
Founder and CEO of TRANSLIT, Alex Chernenko, stated “we’ve had an incredibly busy few years and the team and I are ready to take our activity to the next level. Our partnership with DA Languages also reinforces TRANSLIT’s commitment to providing exceptional language solutions. We are thrilled to join Valorem Group, a consortium that shares our ambitious drive and commitment to excellence.”
UK-based Valorem Group is headed by the DA Languages management team, which was acquired by private equity firm IK Partners in 2021. The Group’s members include telephone interpreting and specialist telephony products provider Miton Systems — which the Group acquired in 2020 — and sign language interpretation provider Sign Solutions, acquired in 2022.
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Commenting on the acquisition, Matthew Taylor, CEO of DA Languages, stated that TRANSLIT’s “innovative approach to language services aligns perfectly with our mission to support ambitious companies. Together, we will continue to push boundaries and deliver unparalleled value to our clients.”
As part of the deal, TRANSLIT’s Chernenko told Slator that “each company within the Valorem Group will continue to operate independently”, and therefore there are “no changes to CEO positions.”
However, there will be some changes to headcount through the deal. The LSP confirmed to Slator that the acquisition has created new jobs and that the company is currently hiring several “senior level positions reporting directly to the company directors.”
The company stated that “with a renewed emphasis on technological advancements and partnerships, the company is poised to redefine the landscape of language access and diversity initiatives.”
When asked about plans to leverage AI for interpreting solutions, Chernenko told Slator, “We are always looking at ways to expand and improve our offering for clients and we are examining how AI can be part of that in the future.”