Organic Growth Drives Company Results Amid Rising Optimism of Economic Recovery
NEW YORK, April 20, 2021 – TransPerfect, the world’s largest provider of language and technology solutions for global business, today announced first quarter revenues of more than $230 million. This represents an increase of approximately $40 million, or 21%, over the same period in 2020. These results extend the company’s streak of 116 consecutive quarters of growth as TransPerfect approaches its 30th year of operations.
One hundred percent of the company’s revenue increase for the quarter can be attributed to organic growth, as TransPerfect’s M&A activity has been paused since the COVID-19 crisis began in 2020. The company expects M&A activity to resume in the coming months.
In many ways, 2020 set the stage for TransPerfect’s push into 2021, as the company was able to invest heavily in technology R&D. The new products and features developed during that period, some of which enabled clients to better work remotely, were adopted by customers at a record pace. TransPerfect expects to reap the benefits of increased client adoption of these new products throughout 2021 and for the foreseeable future.
TransPerfect’s investment in R&D also allowed the company to add enhancements and make major UX improvements to its GlobalLink technology, the company’s flagship translation management systems comprising products such as Project Director, OneLink, TransPort, AI Portal, and MediaNEXT. These improvements greatly streamline the creation, deployment, and maintenance of translated content. In addition, TransPerfect continues to invest in its AI data gathering and annotation platform, DataForce, which saw significant growth in 2020.
TransPerfect President and CEO Phil Shawe commented, “We’ve managed to start 2021 in a strong position, and we hope this bodes well for the year ahead. I'm extremely grateful to our employees around the world for their courage, grit, and undying commitment to servicing our clients—through any and all adversity.”
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 100 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. More than 5,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.