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Lionbridge expands its AI offering with the acquisition of Gengo and Gengo.ai
WALTHAM, Mass., Jan. 16, 2019 / PRNewswire / - Lionbridge, a global leader in multilingual digital communications, today announced the acquisition of Gengo. The Tokyo-based technology company provides services such as crowdsourcing, machine learning, and localization to global customers.
For 20 years, Lionbridge's 500,000 language experts have helped leading companies around the world grow their presence on the global stage. With machine learning, we make your platforms and products smarter and develop content for various industries.
The acquisition of Gengo will strengthen Lionbridge's position in machine learning and relevant content. The purchase also includes Gengo.ai, the company's platform that provides AI data comparison services from highly specialized contributors through a fast and efficient crowdsource network.
"Gengo is an important acquisition for us that complements our core strategic business," said John Fennelly, Lionbridge CEO. “This gives us the opportunity to penetrate new markets in the field of artificial intelligence. In addition, the highly talented team assembled by Matthew Romaine strengthens our human capital pool. Gengo's advanced technology platform will become an important part of our localization delivery system. In addition to these very tangible advantages, with this transaction we will expand our already considerable offering in Asia as well as the range of our technology tools and thus increase our market share in the local gaming and life science market. "
Gengo was founded in 2008 and has established itself as a pioneer in automation and technology solutions in the localization industry. The company was co-founded by Matthew Romaine and has grown under the leadership of executives from technology giants such as Uber, Yahoo! and Sony is constantly evolving. Since its inception, Gengo has carried out translation and localization projects of all sizes with vendors such as BuzzFeed, TripAdvisor, Eventbrite, and major e-commerce and tourism companies.
"The Gengo team looks forward to working with Lionbridge to further increase the skills, efficiency and quality that customers associate with Lionbridge," said Matthew Romaine, Co-Founder and CEO of Gengo. "Together we will supply the global markets with new technologies and thus expand the reach of our industry even further."
Charly Walther, VP Product and Growth at Gengo, explains: “The demand for comparative data for machine learning and validation services will continue to grow significantly. Lionbridge's language experts will work with Gengo's existing crowd and technology platform to provide this growing market with a world-class solution for AI development. "
Romaine and the Gengo team will be integrated into Lionbridge upon completion of the transaction and will take on key management positions with us.
This is another strategic move to deepen Lionbridge's specialized offerings under the company's new brand and further expand our leadership in translation and localization for gaming, life science and other industries.
It is the first acquisition since Lionbridge was acquired by H.I.G. Capital in May 2017. The parties agreed not to disclose the purchase price
Gengo, a Lionbridge company, is a global technology provider providing translation and AI comparison data to companies around the world. Founded in 2008, the company has translated over a billion words to date for more than 65,000 customers. The platform, supported by professional staff, has advanced the translation and AI comparison data market by light years in terms of efficiency, scope and speed. Gengo was previously based in Tokyo with offices in San Mateo, California, London and Manila. Gengo has raised USD 26 million in venture capital from various investors such as Intel Capital and Atomico. In December 2018, the company was acquired by Lionbridge. More information is available at https://gengo.com and https://gengo.ai.
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