PROVO, UTAH, Translation services provider specializing in intellectual property (IP) and technical materials for global enterprises raised funding from Frontier Capital.
Frontier Capital is pleased to announce its investment in MultiLing, a translation services provider specializing in intellectual property (IP) and technical materials for global enterprises.
Frontier's $10.3 million minority equity investment in MultiLing provides growth capital to support the company's continued expansion. The company will continue to be led by Michael Sneddon, chief executive officer; Lyle Ball, chief operating officer; and Todd Rapier, executive vice president of sales.
'MultiLing is a well-established company with a strong management team and a unique translation model long at work with enterprises such as Procter & Gamble, Dow Corning, and Yokohama Rubber,' said Michael Ramich, partner, Frontier Capital. 'This made MultiLing an ideal company in which to invest, as it looks to grow market share worldwide with multinational companies requiring the highest quality patent and technical translations.'
MultiLing has more than 1,400 employees and contractors, and more than half of the company's in-country native-speaking translators hold either a PhD or master's degree in scientific fields relevant to global enterprises. MultiLing best serves enterprises with highly technical requirements, focusing on patents, litigation and prosecution needs, as well as technical materials such as software, manuals and websites. The company's enterprise clients have annual translation budgets exceeding $10 million to protect their ideas around the world.
Seven global MultiLing offices in China, Germany, Italy, Japan, South Korea, Peru and the United States provide MultiLing clients with superior customer service around the globe. Its unique centralized translation model offers a single point of contact for managing client projects with highly specialized teams, terminology management, translation memory, quality control and proprietary technology.
'Over the last few years, we've seen double digit growth in our business,' Sneddon said. 'This growth comes from a continued increase in the number of U.S., European and Asian enterprises spending millions of dollars per year on translations despite the global economic downturn.'
To accommodate this growth, the 25-year-old company-which translates technical materials in more than 80 languages in 120+ countries-has made significant investments over the last two years, including expanding its corporate leadership and sales team worldwide and moving its corporate headquarters to a larger office in Provo, Utah.
'With this investment from Frontier, we expect to be able to more quickly enhance our services in countries such as China, Japan and South Korea to accommodate the region's dramatically increasing volume of patent filings to and from the United States and Europe,' Ball said
About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit www.frontiercapital.com
Founded in 1988, MultiLing is a private company based in Provo, Utah, that specializes in translation and localization for the patent, IT, chemical, medical technology, biotechnology and automotive industries. It translates the world's most important documents into more than 80 languages in 120+ countries. Current clients include many Fortune 500 companies such as Dell, Procter & Gamble, Siemens, TYCO, Münchener Rück, LSI Corporation and Promise Technology. For more information, please visit http://www.multiling.com.
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about