Lorenzo Mondo, CEO of STAR7, the Alessandria-based Italian LSP, announced today the acquisition of LocalEyes, the Irish LSP established in 1997 to support Apple in globalizing its brand. The combined companies will put the STAR7 Group among the Top 40 companies in the language industry worldwide.
The transaction was financed by internal resources and the issue of two bonds totaling EUR 25 million.
To expand its presence in the United States and diversify its client base, STAR7 had acquired Techworld and The GEO Group in the last two years, after a previous expansion in Latin America with offices in Brazil and Argentina. As the largest member of STAR Group network, headquartered in Switzerland, STAR7 is expanding its original footprint in services for the automotive industry to new segments and geographies.
Linda Spahija, Chief Executive Officer of LocalEyes, mentioned that the company received several offers, and that “We chose STAR7 because of the close match between the history and the vision of our two businesses: we both have content localization in our DNA, have seen extraordinary growth and view a tailor-made approach to business for premium customers as our mission.”