The New York City-based language service provider (LSP) TransPerfect announced earlier this week that it has acquired Transfer, a French company which specializes in corporate language training.
The company noted that Transfer has recently seen an increased demand for its language training services, particularly for enterprise-level learning. Neither company disclosed the financial terms of the agreement, however it should be noted that TransPerfect is currently the largest LSP in the world, with a 2020 revenue of more than $850 million according to The 2021 Nimdzi 100, which ranks the largest LSPs in the industry.
“Investing in employee training and skill development is more important than ever for our large multinational clients,” said Phil Shawe, the president and CEO of TransPerfect. “This transaction will help our combined customers achieve their business goals. And, of course, we would like to extend a warm welcome to the entire Transfer team.”
Transfer was founded in 1985 in Paris, originally focusing on providing language training services to individuals. It eventually shifted its specialization to focus on enterprise-level services, and now provides language training for clients across multiple different fields, such as life sciences and the automotive industry. The company has provided services to companies including Ogilvy and Renault, among many others.
Transfer will become a part of TransPerfect’s pre-existing Language and Cultural Training (LCT) branch, which, in addition to language training services, also provides companies with cultural awareness training as well as language proficiency examinations. According to TransPerfect, the combined teams will offer a host of both virtual and in-person trainings, in order to better accommodate companies in the midst of the ongoing COVID-19 pandemic and its effects on the work environment.
“This is an exciting day as Transfer and TransPerfect embark on a new journey together,” said TransPerfect’s senior vice president Barnaby Wass, who will oversee Transfer as it joins the LCT. “With access to the breadth and depth of TransPerfect’s global footprint and capabilities, Transfer’s clients will benefit from this union, both within France and beyond.”