welocalize & park merge to form $100 million translation services and technology company
Frederick, Maryland USA – February 6, 2012 Welocalize, Inc., the on-demand translation leader, today announced its merger with Park IP Translations. With its headquarters in New York City and offices and locations worldwide, Park is a specialized provider of translation services in the legal area including patent translations, litigation support, mergers & acquisitions and contracts.
“I am very excited to now be able to service our client’s legal translation needs.” said Welocalize CEO, Smith Yewell. “Our goal is to continue to expand our multilingual service offering across a variety of specialties and technologies, and our merger with Park also adds increased scalability with the combined company being over $100 million in sales.”
Likewise, Park is eager to offer Welocalize services and global infrastructure to its client base. Josh Rosman, CEO of Park IP Translations, said, ‘By combining with Welocalize, Park will be able to leverage Welocalize’s global presence, robust infrastructure, and industry leading technology in our service to our clients. Our partnership with Welocalize, given their dominant platform and scale, positions Park as the global leader in legal translations.’
Park will continue to be run by its existing management team and will operate as a Welocalize subsidiary with no change to the Park name and brand.
The combined experience between the two companies will further expand Welocalize’s in a growing number of specialties to include high-tech, manufacturing, life sciences and legal.
Moorgate Partners, a New York City based investment banking boutique, acted as exclusive financial advisor to Park IP Translations in connection with this transaction.
About Park Translations International
Park Translations International is a strategic language consultancy positioned to support communication throughout the world. Park’s business engagements span a wide variety of legal practice areas and technical specialties. Park is headquartered in New York City, while maintaining operating offices and locations worldwide. Please visit www.parkip.com for more information.
Welocalize offers integrated translation services and products to support the need for on-demand translation. We provide globalization consulting, translation, localization, testing solutions and enterprise translation management tools that are optimized to be able to deliver on-demand translation in over 100 languages. With over 500 employees worldwide, Welocalize maintains offices in the United States, United Kingdom, Germany, Ireland, Japan and China. Please visit www.welocalize.com for more information.