Merger Creates Powerhouse in Globalization Services

International Communications and International Language Engineering Merge to Provide Enhanced Strategic Services for Companies Doing Business Globally International Communications(R), a leader in providing multilingual solutions for global businesses and e-commerce participants, today announced a merger with International Language Engineering Corporation (ILE), of Boulder, Colorado, a leading independent globalization services company. As a result, these two global leaders in the language services industry -- now with more than 600 employees -- have joined forces to create one of the top five largest globalization services companies worldwide. The merged entity will operate as International Communications. Since its inception in 1984, International Communications has steadily grown to become a leader in localization and multilingual translation services for a client list that includes Fortune Global 500s as well as small to mid-sized international businesses. According to International Communication's Steven L. Fingerhood, chairman of the board and chief strategic officer of the combined company, annual revenue projected for the next fiscal year will be in excess of $60 million. The merged company will have offices in the United States, Germany, China, France and the Netherlands, and strategic partnerships worldwide. Equity Group Corporate Investments of Chicago, a corporate investment arm of Sam Zell, Cornerstone Equity Investors of New York and Dakota Capital Partners will retain substantial minority holdings in the new entity. By combining the industry sector expertise and broad-based operational management of both firms, International Communications expects to leverage its strength as a global leader in the technology side of the language and localization industry. "We have the resources to significantly enhance our clients' worldwide business performance with an expanded suite of services and in-depth capacity," said Roger Jeanty, chief executive officer of International Communications. "For the new generation of serious e-commerce players who need powerful multilingual solutions that combine services and technology, doing business globally just got easier." To meet the growing needs of major global clients, the company is implementing an internal restructuring that includes the formation of Global Business Groups (GBGs). These groups will offer customized globalization services in four key client sectors: Information Technology Telecommunications; Enterprise Solutions; Life Sciences; and Global Direct Media. "As a result of the merger, we have created a company with significantly expanded scope and service offerings," said Lou Faust, retiring chief executive officer of ILE. "By combining our strengths, we now have increased capacity, expertise and resources to deliver to our clients customized business solutions in the areas of global planning, localization, publishing, workflow design, and global delivery. This merger immediately creates significant value for our clients, our people and our shareholders." Faust explained that the new entity will offer expanded offerings in such areas as technical writing and consulting, global strategy consulting, and internationalization and localization into more languages and more platforms. "Customers can expect to benefit from expanded global reach, combining three world-class localization production facilities in the US and a growing network of in-country offices, production facilities and partners across the globe," added Faust. Globalization is the sum of all the processes used to prepare products and services for sale in global markets, and also includes the management of multilingual information within companies operating internationally. Software packages, high-end client/server software solutions, medical devices, Enterprise Resource Planning (ERP) applications or consumer products and services with international distribution or international e- commerce all have strategic multilingual components that require advanced technology and service solutions. The globalization services market, currently valued at over $10 billion and growing more than 30 percent annually, is being fueled by four major drivers: globalization of business; migration of content and information to digital form and the Web; outsourcing of non-core competencies by global companies; and the need for scale and consolidation in a fragmented industry. International Communications is a leader in this space and is achieving scale through rapid internal growth and selective mergers and acquisitions. About International Communications International Communications (www.intl.com) is a leader in providing globalization services for businesses that are establishing or enhancing a global presence. As one of the top five largest globalization companies worldwide, International Communications offers comprehensive and customized solutions in the areas of IT/Telecommunications; Enterprise Solutions; Life Sciences; and Global Direct Media. For further information and details, contact International Communications at 508-620-3900. International Communications(R) is a registered service mark. ots Original Text Service: International Language Engineering Corporation Internet: http://www.newsaktuell.de Contact: Ellen Lutvak, Director of Marketing of International Communications, 508-620-3900 ext. 251, elutvak@intl.com; Bruce Jacquemard, Senior Vice President of ILE, 303-245-7600, bjacquem@ile.com; or Philip O'Brien, Sr. Account Manager of Rainier Corporation, 978-464-5302 ext. 123, phil@rainierco.com Web site: http://www.intl.com

Keywords

Region
Prague, Central Bohemia region and Czech Republic

Category

RECEIVING PRESS RELEASES
Subscribe for free

Important notice:
Subscribers please note that material bearing the label "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" label. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents.