TransPerfect, the world’s largest provider of language and technology solutions for global business, announced that it has acquired UK-based Sterling Technology, Europe’s leading provider of VDR solutions for secure sharing of content, business process automation, and collaboration for high-stakes dealmaking. Financial terms of the transaction were not disclosed.
Sterling’s VDR solutions enable seamless file sharing and content collaboration among all participants, increasing productivity and accelerating deal timelines while delivering best-in-class security and unrivaled end-to-end support. The company has helped users from over 187 countries and 90 industries successfully complete thousands of deals. With offices in seven major European financial centers, Sterling is trusted to deliver exceptional levels of service on the most critical transactions for the M&A, corporate development, real estate, capital markets, private capital, banking, and legal communities.
Sterling will continue to be led by CEO Geoff Keating, who, along with the rest of the company’s leadership, will join TransPerfect’s senior management team. Keating has served as CEO since 2008 and has led the company’s ascent to its market-leading position both before and after its separation from Sterling Financial Print.
Keating commented, “This acquisition is recognition of the success of Sterling’s employees and leadership team in growing our company to become the leading European provider of virtual data room solutions. The shareholders and leadership team of Sterling believe that TransPerfect is the ideal strategic new owner for our business.” Keating added, “Being part of a much larger, successful global enterprise will provide increased growth opportunities for our business and employees as well as access to new markets. For our customers and users, Sterling will continue to deliver the same premium virtual data room solutions and service excellence they expect from us.”
TransPerfect President and CEO Phil Shawe stated, “We have admired Sterling’s strong reputation and leadership position in Europe. It is exciting to have them as part of our global team, and I have no doubt we will achieve great things for our clients. We welcome everyone at Sterling to the TransPerfect family.”
TransPerfect was advised on the transaction by CDX Advisors and law firms Baker Botts and Simons Muirhead Burton. Sterling was represented by RSM UK and Ward Hadaway.