Summa Linguae continues to enact its acquisition strategy in Europe. Learn more below.
We’re here to announce an investment contract and Memorandum of Understanding between Certitude Eurologos S.r.l. (Certitude) and the Polish company Summa Linguae S.A. (SUL).
These contracts detail how Summa Linguae takes over 12,243 shares in the increased initial capital of Certitude. Moreover, the Romanian company will change its name to Summa Linguae Romania. Its Management Board will also include one member being a representative of SUL.
After signing the contract, both companies shall closely cooperate within the field of providing language services, coordination of business strategies and obtaining cost synergy.
What Our CEO is Saying About the Acquisition Strategy in Europe
This isn’t the first time where Summa Linguae cooperates with a local service provider to ensure global competitive position, though:
Our “glocal” drive has been visible already when we signed a Memorandum of Understanding and an Investment Contract with an Indian company in September of this year. Our alliance with Certitude is a continuation of that strategy – we seek partners, who may ensure the expansion of our services through high quality services in regional languages, which contributes to a highly competitive position at the global market.
In the case of the Romanian company we hope for a close cooperation in providing linguistic services in language pairs with Romanian, Bulgarian, Serbian Greek or Albanian languages. We hope that cooperation with local providers proves much more worthwhile for our Customers as compared to situations when we would have to start from the scratch on a given market – explained Krzysztof Zdanowski, President of the Management Board of SUL.
So, the strategic alliance with the Romanian company is part of the next step in our journey towards Summa Linguae’s presence on the global market. It’s also a continuation of our business strategy as Certitude shall serve as a support center for Krakow and Bengalur.
Summa Linguae is the only translation services provider listed at the Warsaw Stock Exchange. SUL is the leader among translation companies in the region.
After Q3 of 2016, the Company recorded revenues at the level of PLN 4,002 thousand. As a comparison, in Q1 of 2015 the results reached only PLN 3,417 thousand.
This result does not include the consolidated revenues of Mayflower, another recent acquisition. Revenues of all companies belonging to the SUL group reach the level of PLN 15 million. Additionally, the company shall start consolidating the financial reports of the Group as of January 2017.
About The Companies
SUL was founded in 2011, taking over two translation companies – Spectraling and busy b. In subsequent years three other entities were acquired, and in 2016 the fusion with the Indian translation office – Mayflower – was finalized.
Certitude Eurologos S.r.l. (est. 2012) operates in the translation providers’ sector with its main offices in Bucharest. It further provides services mainly to corporate Customers in the language pairs covering Romanian, Greek and Bulgarian language.
Legal advisors for the purposes of this transaction were – on the part of Summa Linguae – the office of Chabasiewicz Kowalska and Partners and the Romanian Legal Office Cunescu, Balaciu, Asociatii – Societate civila de avocati. Enterium Sp. z o.o. fulfilled the role of a financial advisor.
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