Antoine Camus, CEO of Word Class, told Slator that the LSP had been considering external growth “for a couple of years,” with the goal of increasing the company’s presence in France and international markets. Fastnet, with its strong brand and robust portfolio of clients in the financial sector, stood out.
While the companies share a general focus on financial content, Fastnet Translation specializes in asset management. World Class’ areas of expertise include financial communication, regulatory disclosures, and financial research and analysis.
“Part of the acquisition rationale was that both companies had experience in different financial fields with no overlap,” Camus explained. As mentioned in the same press release, Word Class plans to incorporate Fastnet as its “pure player multilingual financial translation brand.”
Word Class’ service offerings are divided roughly in thirds across multimedia, digital marketing, and e-learning. Founded in 2010, the LSP works in more than 70 languages and has a headcount of 17 distributed among three offices in Paris, Singapore, and New Mexico, USA.
Previous owners Philippe Sabbah and Jean-Bernard Le Floc’h, former finance professionals with over 30 years of combined experience in capital markets and asset management, will continue to contribute as “strategic advisers” during a transition period. Fastnet’s project management team and network of almost 500 freelance linguists will remain onboard and unchanged post-deal.
Moving forward, Geraldine Lim, Chief Digital Officer at Word Class, will take the helm, while Chief Strategy Officer, Emmanuel Hacques, a recent addition to the team, will oversee Fastnet Translation and advise the LSP on future potential acquisitions.
“We will continue to remain attentive yet very selective in our external growth strategy,” CEO Camus said of Word Class’ plans.
In the short term, he said, this means leveraging Fastnet Translation’s “tremendous growth potential” serving leading global investment firms. Further down the line, Word Class expects to develop the company’s presence in new markets and verticals, and explore valued-added technology solutions.