Summa Linguae Technologies, a Krakow, Poland-based language service provider (LSP), announced its acquisition of Warsaw-based GET IT on Tuesday.
Founded in 1995, GET IT has a particular focus on translation and localization in the life sciences. According to Summa Linguae’s announcement, it will pay roughly $4.3 million in cash and “two potential annual earnout installments” to acquire a 100% stake in the LSP. Summa Linguae CEO and founder, Krzysztof Zdanowski said he believes the acquisition of GET IT will augment Summa Linguae’s presence in the life sciences vertical.
“GET IT complements our current localization solutions and machine translation capabilities,” Zdanowski said. “They add a deeper life sciences expertise to address emerging challenges in the space and enhance our growing presence across Europe.”
GET IT’s CEO and founder, Piotr Czajkowski, said he first grew interested in joining forces with a global company after attending a meeting with the Polish Association of Language Service Providers in late 2021.
“At GET IT we realized we needed to be part of a global platform to offer more to our international clients,” Czajkowski said. “Out of all the companies we spoke to, Summa Linguae’s culture made them the obvious choice”
In the company’s announcement of the acquisition, Summa Linguae cited three major benefits of acquiring GET IT. In addition to allowing Summa Linguae to expand on and improve its offerings within life sciences, Summa Linguae also noted that it would allow for quicker turnaround on large projects, as well as accelerating the company’s implementation of Information Security Management System procedures, according to those outlined in ISO 27001:2017.
The acquisition is effective as of Oct. 18 — Summa Linguae estimates that this move will add $3.5 million in revenue and roughly $900,000 in EBITDA to the company’s annual consolidated revenues. In 2021, Summa Linguae brought in $27.4 in revenue, according to this year’s Nimdzi 100, which placed the company among the top 100 largest LSPs in business.