Friday 15th June 2018
Straker Translations Acquires Leading Spanish Translation Company Sociedad Management System Solutions, S.L.
Straker Translations (Straker), a global leader in technology-enabled translation services is excited to announce it has acquired Sociedad Management System Solutions, S.L. (MSS), one of Spain’s leading translation companies.
MSS was founded 30 years ago by Alvaro Rocyabayera who is the current CEO and will remain with the company post the acquisition. They are based in Barcelona, a city where Straker already has a major production centre. MSS has a range of international blue chip, global technology and industrial customers.
MSS has 20 staff and post the acquisition they will merge into one office with the current Straker staff in Barcelona. The close proximity of the offices will enable fast and efficient integration of the two teams and migration of MSS customers to the Straker RAY platform.
This acquisition will give Straker 45 full-time employees in Europe and more than 100 globally spread across offices in 8 countries. Straker does not employ any translators and uses artificial intelligence and human crowdsourcing through their RAY translation platform to provide cost-effective translation solutions to corporations globally.
Straker is actively engaged with a number of other potential acquisition targets and is hopeful of closing one or two more this financial year.
The translation industry is a US$43B (NZ$61 Billion) industry expected to grow at 9% p.a from CY2017 to CY2022.
“As New Zealand looks to a free trade agreement with Europe, it is great that a New Zealand tech company can create technology and services that are world leading in an industry that has historically been the domain of European companies. It shows how New Zealanders think differently and can apply technology and global resources to create valuable global companies from deep in the South Pacific.”
Grant Straker the CEO of the Straker Group.