The Acolad Group, the professional translation specialist, pursues its external growth strategy by expanding into the Dutch market with the acquisition of Livewords.
Amstelveen, 4 July 2019 - The Acolad Group – the number one professional translation provider in Europe – is announcing a new acquisition today, which will reinforce the Group’s presence in the Dutch region. This acquisition reflects Acolad’s pursuit of their 2012 development strategy, with the goal of becoming one of the top five translation agencies worldwide by 2020.
Major challenges at the heart of the takeover: technology, diversification and local strengthening
After a major rebranding which affected 9 of the group's 12 brands last January, Acolad (formerly Technicis) is pursuing its leadership objectives with the acquisition of Livewords. Thanks to this ninth acquisition, the group has passed the symbolic threshold of 1,000 employees and forecasts a turnover of more than 160 million euros for the year 2019.
In addition to its leading position in the strategic market of the Netherlands, Livewords brings to the Acolad group an advanced expertise in interpreting, with 45% of its activity dedicated to this service. Livewords also enriches the group with proprietary technologies: Livewords GO, a real time interpreting app, as well as Livewords Flow, a translation management plug-in that integrates with CMS and PIM systems.
Benjamin du Fraysseix, CEO of the Acolad Group, comments: “The Benelux region is one of the fastest-growing markets for translation and interpreting services in Europe. Adding the expertise of a confirmed market leader to the Group’s offer was a logical step for us. The arrival of Livewords will bring two key elements to the group: a prominent presence in the network of Dutch translators and a clear reinforcement for the group in interpreting services. This is also a crucial step for the Group in order to confirm our multi-local approach, with offices in all major European countries.”
Livewords - the leader in the Dutch market
Livewords is the Netherlands’ biggest Language Solution Provider and offers professional translation and interpreting services to businesses in the Benelux region. The company, formerly known as Concorde group, recorded a turnover of €37m in 2018. Having acquired the cloud translation platform Livewords back in 2016, the group continued its growth with the acquisitions of BB&TW (April 2017), Words at work (July 2017), Engels & Partners (February 2018), Balance Translations (May 2018), Metamorfose (June 2018) and Walker Language Consultancy (December 2018) before being acquired itself by the Acolad Group. By joining the Group, Livewords will benefit from Acolad’s knowledge of the translation market, as well as from its international presence and extensive know-how. Livewords has 178 employees and over 1,000 customer accounts globally. Livewords has offices in Amstelveen, Maastricht and Utrecht.
“We are thrilled to be partnering with Acolad.” says Livewords CEO Alexandra Hubar. “In this partnership we can exercise our ambition to grow and truly become a market leader in Europe. The transition will enable us to achieve our shared vision for the industry more rapidly. With combined professional competence, resources and the latest innovative tools, Livewords will be able to respond faster and more effectively to the growing and increasingly complex needs of our clients.”
The Acolad Group continues its international expansion strategy in 2019
Livewords is Acolad’s ninth acquisition since 2012, the year the Group launched its strategy for external growth. V.O. Paris joined the Group first, followed by Cogen (2015), Translation Probst (2016), Arancho Doc (2017) and, more recently, TextMaster, the specialist in cloud-based professional translation solutions, as well as HL TRAD, Telelingua and AAC Global (2018) before the Group changed its name from Technicis to Acolad.
About the Acolad Group
The Acolad Group currently has over 850 employees worldwide as well as a solid international presence, with offices throughout Europe (France, Belgium, Italy, Switzerland, Spain, Finland, Sweden, Denmark, Germany and the UK), North America (Canada and the United States) and Asia (China). The Group has recorded a 2018 turnover of €117 million and has established itself amongst the leading international agencies in the professional translation industry.
Livewords began its journey in 1992 under the name Concorde. The company has since grown to become a market leader in the Benelux region and ranks among the top five largest interpreting services in the world. Livewords has a network of 3,300 interpreters and translators and is a specialist in a range of sectors, including legal, financial, life sciences, technical, public services, marketing & e-commerce, and retail. Livewords also works for various governmental and semi-governmental organisations.