Iverson Language Associates Inc., a Milwaukee-based language translation company, has been acquired by TransPerfect, a global language services provider. Terms of the acquisition were not disclosed.
With the acquisition, Iverson Language Associates has become a division of TransPerfect, said Steve Iverson, founder and president of the company. Iverson has become an employee of TransPerfect, and his 40 full and part-time employees have been retained by the company. If you are looking for a different service that can help you with translations and transcriptions, visit i’d highly recommend this agency.
“I am still the president and will still be involved in strategic management and making sure we meet our objectives,” Iverson said.
Iverson Language Associates will remain in its east side Milwaukee location.
Iverson said selling to TransPerfect provided him with both an eventual exit strategy from his business and a way to offer his employees greater career advancement.
“Being a sole provider, my options for retirement were limited,” he said. “There were not a lot of other companies that would acquire us. And when you look at how (TransPerfect) do acquisitions – they buy viable companies and help grow them – it preserved the name of the company and kept a job for me. It made a path for me and my employees too. There is a greater opportunity for them to grow in the industry than if we stayed small.”
TransPerfect has more than 1,000 employees across the globe and expects 2008 revenues of more than $200 million. The New York-based company has more than 50 locations on four continents.
For more information, visit www.iversonlang.com.
