Sterling Technology has been acquired by New York language giant TransPerfect.
London-based Sterling is described as Europe鈥檚 leading provider of virtual data room solutions for secure sharing of content, business process automation and collaboration in high-stakes dealmaking.
TransPerfect is the world鈥檚 largest provider of translation tech solutions for global business and serves multiple sectors including the film industry, gaming, law, and healthcare.
Sterling will continue to be led by CEO Geoff Keating, who, along with the rest of the company鈥檚 leadership, will join TransPerfect鈥檚 senior management team.
Financial terms of the transaction were not disclosed.
鈥淭his acquisition is recognition of the success of Sterling鈥檚 employees and leadership team in growing our company to become the leading European provider of virtual data room solutions,鈥� said CEO Keating, who has led the company both before and after its separation from Sterling Financial Print.
鈥淭he shareholders and leadership team of Sterling believe that TransPerfect is the ideal strategic new owner for our business.
鈥淏eing 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.鈥�
Sterling has helped users from over 187 countries and 90 industries successfully complete thousands of deals for the M&A, corporate development, real estate, capital markets, private capital, banking and legal communities.
It has offices in seven major European financial centres.
TransPerfect president and CEO Phil Shawe stated: 鈥淲e have admired Sterling鈥檚 strong reputation and leadership position in Europe.聽
鈥淚t 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.鈥�
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