After six years of close collaboration, Vinkit officially joins the OXO Innovation group. Montreal-based language service provider (LSP) OXO Innovation announced this month that it has acquired its local collaborator Vinkit. This brings the join annual revenue to around $10 US million.
Vinkit was founded seven years ago by Joëlle Parent-Proulx to provide translation services that would help companies deliver an impactful message in both of Canada’s official languages. Along the way, it developed a close partnership with OXO, a fast-growing LSP that has 100 employees in its offices in Canada, Brazil, and Morocco. The two Montreal startups have been collaborating since 2015.
“There is no one else I would have entrusted my company to,” says Joëlle Parent-Proulx, founder of Vinkit. “Having collaborated with OXO for many years, I feel confident that Vinkit clients will receive the same level of personalized, customer-first service that they’ve come to expect and that they will appreciate the wider range of services offered by OXO.” While Vinkit focused on French and English translation, OXO bills itself as a one-stop-shop for all its clients’ language needs.
A String of Successful M&As This transaction marks the fourth acquisition by OXO Innovation in three years. In 2018, the group acquired Ccaps, a well-established language service provider in Rio de Janeiro, Brazil.
This deal allowed the company to better serve clients all across the Americas and proved long before the pandemic that you don’t need to be in the same office—or even on the same continent—to work as a united team. In 2019, OXO acquired Quebec-based Communications Transcript, expanding its French translation capacity and its expertise in the financial and transportation sectors. OXO and Transcript share an office in Montreal’s Golden Square Mile while retaining their respective brands. Shortly thereafter, in 2020, it acquired a small translation operation serving a major client in the fast-food industry.
“We are very proud to welcome Vinkit into the group. This latest acquisition is aligned with our goal of partnering with companies that share our values and of expanding our activities in North America,” says Charles Lesperance, CEO of OXO Innovation.
