logo image
  • News
    • People Moves
    • Deal Wins
    • Demand Drivers
    • M&A and Funding
    • Financial Results
    • Technology
    • Academia
    • Industry News
    • Features
    • Machine Translation
    • — Divider —
    • Slator Pro
    • — Divider —
    • Press Releases
    • Sponsored Content
  • Data & Research
    • Research Reports & Pro Guides
    • Language Industry Investor Map
    • Real-Time Charts of Listed LSPs
    • Language Service Provider Index
  • Podcasts & Videos
  • Events
    • Design Thinking – February 2021
    • — Divider —
    • SlatorCon Coverage
    • Other Events
  • Directory
  • RFP Center
  • Jobs
MENU
  • News
    • People Moves
    • Deal Wins
    • Demand Drivers
    • M&A and Funding
    • Financial Results
    • Technology
    • Academia
    • Industry News
    • Features
    • Machine Translation
    • — Divider —
    • Slator Pro
    • — Divider —
    • Press Releases
    • Sponsored Content
  • Data & Research
    • Research Reports & Pro Guides
    • Language Industry Investor Map
    • Real-Time Charts of Listed LSPs
    • Language Service Provider Index
  • Podcasts & Videos
  • Events
    • Design Thinking – February 2021
    • — Divider —
    • SlatorCon Coverage
    • Other Events
  • Directory
  • RFP Center
  • Jobs

Advertise on Slator! Download the 2021 Online Media Kit Now

  • Slator Market Intelligence
  • Slator Advertising Services
  • Slator Advisory
  • Login
Search
Generic filters
Exact matches only
Advertisement
Finnish Language Service Provider Transfluent Acquires Two Local Boutique LSPs

1 year ago

December 17, 2019

Finnish Language Service Provider Transfluent Acquires Two Local Boutique LSPs

M&A and Funding ·

by Esther Bond

On December 17, 2019

1 year ago
M&A and Funding ·

by Esther Bond

On December 17, 2019

Finnish Language Service Provider Transfluent Acquires Two Local Boutique LSPs

On December 1, 2019, Finnish language service provider (LSP) Transfluent Oy bought two local rival boutiques, both based in Tampere, Finland. Transfluent, which focuses on digital translations for websites, e-commerce, and platform-based customers, acquired Translatum Oy and Navitep Oy. The terms of the deals were not disclosed.

Founded in 1996, Translatum provides language services across a number of sectors including IT, engineering, and healthcare. Navitep, meanwhile, is a web-based company that offers machine translation, post-editing, and human translation services.

Transfluent CEO Mikko Räty told Slator that, prior to the deal, Translatum was wholly owned by its former CEO Risto Kuosmanen. Kuosmanen also owned the majority share (53.4%) in Navitep and was its CEO. According to Räty, other Navitep owners were Sifu Ventures, EW Oy and Ville Prusi. Kuosmanen will join Transfluent to focus on sales, Räty said.

Advertisement

Slator 2020 Language Industry Market Report

Data and Research, Slator reports
55 pages. Total market size, biz dev and sales insights, TMS & MT review, buyer segment analysis, M&A, Covid impact & outlook.
$480 BUY NOW

Neither of the two deals are major transactions; Transalatum and Navitep will add a combined total of around EUR 0.8m (USD 0.9m) to Transfluent’s top line revenues, which amounted to EUR 2.1m (USD 2.3m) in 2018, Räty told Slator; 80% of Transfluent’s revenues come from Finland, with the US being the LSP’s biggest outside market, he added. The company claims to serve more than 1,600 customers around the world.

IPO Plans Cancelled

Under its Co-founder and former CEO Jani Penttinen, Transfluent ran a very public fundraising campaign on Finnish crowdfunding site Invesdor in 2017, seeking to raise at least EUR 0.6m in exchange for a 6.98% equity stake in the company. Transfluent’s pitch, which centered on servicing corporate customers and automating away the project manager, drew interest from more than 130 prospective investors, including Finnish venture capital firm VisionPlus Fund I Ky.

Penttinen, who left the business back in May 2019 to set up a video game development company in the US, still owns around 5% of Transfluent. Penttinen told Slator in a 2017 interview about the fundraising that his goal was to grow Transfluent into a company with around EUR 12m in revenues by 2020. The LSP was also targeting a mid-term IPO or trade sale.

Providing an update on Transfluent’s current plans, CEO Räty said revenues of at least EUR 10m were still “possible in [the] next 3–5 years” and that there was now “no clear IPO goal in our strategy.” Instead, the LSP is more focused on potential acquisitions, he said.

TAGS

AcquisitionEW OyFinlandfundraisingInvesdorJani PenttinenM&AMikko RätyNavitep OyRisto KuosmanenSifu VenturesTransfluentTranslatumVille PrusiVisionPlus Fund I Ky
SHARE
Esther Bond

By Esther Bond

Research Director at Slator. Localization enthusiast, linguist and inquisitor. London native.

Advertisement

SUBSCRIBE TO THE SLATOR WEEKLY

Language Industry Intelligence
In Your Inbox. Every Friday

SUBSCRIBE

SlatorSweepSlatorPro
ResearchRFP CENTER

PUBLISH

PRESS RELEASEDIRECTORY LISTING
JOB ADEVENT LISTING

Bespoke advisory including speaking, briefings and M&A

SLATOR ADVISORY
Advertisement

Featured Reports

See all
Slator 2020 Language Industry M&A and Funding Report

Slator 2020 Language Industry M&A and Funding Report

by Slator

Slator 2021 Data-for-AI Market Report

Slator 2021 Data-for-AI Market Report

by Slator

Slator 2020 Medtech Translation and Localization Report

Slator 2020 Medtech Translation and Localization Report

by Slator

Pro Guide: Sales and Marketing for Language Service Providers

Pro Guide: Sales and Marketing for Language Service Providers

by Slator

Press Releases

See all
Super Fast, Creative and Consistent: Supertext Launches Chat-Based Instant Translation Service

Super Fast, Creative and Consistent: Supertext Launches Chat-Based Instant Translation Service

by Supertext

Argos Multilingual Welcomes Kathleen Bostick as Localization Strategist and Senior Consultant

Argos Multilingual Welcomes Kathleen Bostick as Localization Strategist and Senior Consultant

by Argos Multilingual

Donna Thomas Joins Visual Data Media Services as Senior Vice President of Sales, Americas

Donna Thomas Joins Visual Data Media Services as Senior Vice President of Sales, Americas

by Visual Data Media Services

Upcoming Events

See All
  1. Memsource MT Post-Editing Pricing Models Webinar

    Pricing Models for MT Post-Editing Workshop

    by Memsource

    · February 3

    Hear a panel of innovative localization professionals share different approaches for MT post-editing pricing.

    More info FREE

Featured Companies

See all
Text United

Text United

Memsource

Memsource

Wordbank

Wordbank

Protranslating

Protranslating

Seprotec

Seprotec

Versacom

Versacom

Smartling

Smartling

XTM International

XTM International

Translators without Borders

Translators without Borders

STAR Group

STAR Group

memoQ Translation Technologies

memoQ Translation Technologies

Advertisement

Popular articles

Why Netflix Shut Down Its Translation Portal Hermes

Why Netflix Shut Down Its Translation Portal Hermes

by Esther Bond

The Slator 2020 Language Service Provider Index

The Slator 2020 Language Service Provider Index

by Slator

The Most Popular Language Industry Stories of 2020

The Most Popular Language Industry Stories of 2020

by Seyma Albarino

SlatorPod: The Weekly Language Industry Podcast

connect with us

footer logo

Slator makes business sense of the language services and technology market.

Our Company

  • Support
  • About us
  • Terms & Conditions
  • Privacy Policy

Subscribe to the Slator Weekly

Language Industry Intelligence
In Your Inbox. Every Friday

© 2021 Slator. All rights reserved.

Sign up to the Slator Weekly

Join over 13,000 subscribers and get the latest language industry intelligence every Friday

Your information will never be shared with third parties. No Spam.