2024 might be only a week and a half old, but ChapsVision is already ringing in language industry merger-and-acquisitions news.
The French data processing company today announced its acquisition of machine translation technology company Systran. The move is intended to bolster its suite of secure business solutions while facilitating its plans for international expansion.
“We are delighted to welcome Systran to the ChapsVision group,” said Olivier Dellenbach, ChapsVision CEO, in a French press release translated to English via Google Translate. “This strategic acquisition strengthens our position as a leader in data processing and allows us to enrich our portfolio of solutions with innovative automatic and instant translation capabilities to better serve the needs of businesses and governments. Through this operation, we are also very proud to bring back this technological nugget under the French flag.”
ChapsVision officials found opportunities to both build upon and fill gaps in its business operation through the acquisition. Both companies share state clients and a familiarity with the requirements and regulations of European data processing. What Systran brings to the table is instant translation capabilities supporting 55 languages, 150 dialects, dexterous device support, and a client base that includes international collaboration, multilingual content production, customer support, data analysis, etrading, and more.
Both companies’ officials believe the business will bolster ChapsVision’s suite of software tools built upon its foundational data system, Argonos. Equally enticing are the companies’ complementary business footholds — Systran reaps 70% of its revenue from the US, South Korea, and Japan, which nests neatly into ChapsVision’s growth and expansion strategy.
“Joining the ChapsVision group to contribute to its strong growth represents a tremendous opportunity for Systran. We are pleased to offer all ChapsVision customers our sovereign tailor-made machine translation solution to help them meet the challenges of international communication,” said Vincent Godard, chairman and CEO of Systran, in a French press release translated to English via Google Translate.
According to language industry researcher and technology expert Konstantin Dranch, the acquisition is notable for the companies’ reach and major business and state clients — Systran counts “Nestle, Swiss railways, the FBI, and the French military, the EU” among their customers, he wrote on LinkedIn.
“Systran is one of the world’s oldest, most renowned, and largest MT providers. The company’s revenue exceeded 20 million euros in 2022,” Dranch wrote on LinkedIn. “With these figures, Systran is likely in the 5th position globally after Google, DeepL, Microsoft, and TransPerfect.”
The acquisition is the latest in an eventful few business years, Dranch said — beginning with a $42 million infusion from STIC Investments that made it the majority stakeholder.
“The investment group held the company for four years, changed leadership, and saw the business grow moderately from $15m to more than $22m+,” Dranch wrote on LinkedIn. “STIC Investments began the sales process at the end of 2022 and completed the exit just now.”
“No information on the value of Systran in the deal has been disclosed yet, but the deal will make for some delicious discussion,” he added.