Straker Translations (Straker), a global leader in technology-enabled translation services is excited to announce it has acquired EULE (pronounced Oiler) Lokalisierung GmbH – a leading German translation company with offices in Kiel and Cologne.
EULE was founded in 2005 by Jörgen Danielsen who is the current CEO and will remain with the company in a management role post the acquisition. Prior to founding EULE, Jörgen was based in Boston as the VP of Technology for Lionbridge (the world’s largest translation company) and is a highly-regarded industry veteran.
Straker already has a very strong business in Germany with the region being a major contributor to its European revenues. Its RAY translation platform and services are used by a number of blue-chip Germany companies. Straker believes having two more offices in market, along with an experienced team that can sell and deliver services off the back of our RAY technology, will give it a substantial foothold and growth opportunities in Europe’s largest market.
EULE has 23 staff and post the acquisition will merge with the current Straker DACH team in Europe. They are profitable and have a range of internationally known German technology and services companies as customers.
This acquisition will give Straker 68 full-time employees in Europe and more than 120 globally spread across offices in 9 countries. Straker does not employ any translators and uses artificial intelligence and human crowdsourcing through its RAY translation platform to provide cost-effective translation solutions to corporations globally.
This is the 4th acquisition of another translation company by Straker in the past 18 months; after the acquisition of Eurotext (Dublin, Ireland) in late 2016, Elanex (San Francisco, USA) in 2017 and MSS (Barcelona, Spain) In 2018. Using the Straker RAY platform acquired companies become more efficient and profitable post integration.
The translation industry is a US$43B (NZ$61B) industry expected to grow at 9% pa from CY2017 to CY2022.