STRAKER CONTINUES ITS EUROPEAN EXPANSION WITH THE ACQUISITION OF SPANISH TRANSLATION COMPANY ON-GLOBAL LANGUAGE MARKETING S.L.
Overview of On-Global
On-Global, headquartered in Vitoria-Gasteiz in the Basque Country and with an office in Barcelona, is a specialised language services company operating in two regions that are among the most industrial and hi-tech areas in Europe. With 14 employees, On-Global provides translation and technical writing services, transcriptions, website and software localisation, interpreting services, consultancy and document management.
An attractive acquisition that accelerates Straker’s growth
Commenting on the acquisition, CEO Grant Straker said: “Straker has established itself as a leading global technology driven translation services platform. The business has a clear five-point growth strategy, and an important part of that strategy is to seek out targeted acquisitions that strategically complement and accelerate our growth.
“We are focusing our acquisition strategy in markets where we already operate and have an easier pathway for integration of acquired production systems onto our RAY platform for margin gains and, where possible, consolidation benefits. On-Global is an excellent fit in terms of customers, location and people in a market we understand well and where we are established and growing strongly.”
On-Global is a strategically compelling acquisition
• Extends Straker’s presence in the Spanish market, a market Straker knows well
• Adds new strategic customers onto Straker’s high margin RAY technology platform
• Supports further operational synergies across Straker’s European operations
• Provides upselling opportunities across On-Global’s existing enterprise customer base who have demonstrated a need for Straker’s rapid and accurate document translations
• Adds new revenue – for the 12 months to 31 March 2019, On-Global’s revenues were NZ$3.0 million
• Immediately EBITDA accretive.