AI language platform Unbabel announced today the acquisition of Lingo24, a strategic purchase as demand for the company’s services grows.
With over $91 million in funding and growing relationships with the likes of Microsoft, Panasonic, and Udemy, company officials believe the acquisition will result in improved customer experiences. A tech-enabled language service provider (LSP), Lingo24 will help Unbabel provide more consistent language services that should result in improved customer satisfaction and loyalty.
“Lingo24 is an ideal partner for Unbabel to accelerate its growth because of Lingo24’s strong enterprise customer relationships, incredible talent, and deep expertise in localization, translation, and marketing,” said Vasco Pedro, CEO and co-founder of Unbabel. “Our solution will now provide consistent, high-quality multilingual experiences across marketing and customer service channels, accelerating companies’ international growth. This acquisition is an important step in our journey to give global enterprises the ability to fast track and automate their Language Operations.”
According to company officials, Unbabel and Lingo24 integrate with Salesforce, Zendesk, Kustomer, WordPress, Drupal, Magento, and other top CRM and CMS platforms, resulting in a seamless experience for new and and existing clients like Patagonia, Schneider Electric, Eventbrite, UPS, Virgin Pulse and more.
“This acquisition enables us to become a world-class multilingual content partner to global brands seeking to optimize their localization and multilingual content strategy,” said Andrew Campbell, CEO of Lingo24. “Joining forces with Unbabel means we can now grow beyond localized content and offer multilingual customer support to our customers looking to expand into new regions.”
It’s the latest in a week with no shortage of acquisition news. Yesterday, Summa Linguae also announced the acquisition of company Datamundi. It’s another example of a company working to bolster its services in response to demand from tech leaders, 60% of whom said their natural language processing (NLP) budget grew by 10% in 2021. Analysts predict the NLP industry will grow from its current $11.6 billion value to $35.1 billion by 2026.