The French operator of call centers Teleperformance SA adds online video and telephone transfers to its services by acquiring LanguageLine Solutions LLC for $1.52 billion from an American company for private capital, writes Bloomberg.
Paris-based Teleperformance, which has customers in industries such as healthcare, insurance, banking and retail, announced that it’s buying the based in Monterey, California LanguageLine from Abry Partners and a group of investors. The deal will be financed with borrowed funds.
The product of LanguageLine – Insight, can connect telephone operators with one of the eight thousand translators via video link so that they can translate conversations of 240 languages, including Chinese, Spanish, French, German and Arabic.
Digitization of managing client relations and communications with users worldwide is gaining importance with the globalization of business.
Teleperformance expects to complete the deal by the end of the year and predicts that it will increase its profits by about 10% in 2016. LanguageLine was founded in 1982 and has revenue of 388 million dollars and a profit of 147 million USD in 2015.
Credit Suisse Group AG and Morgan Stanley are financial advisers to LanguageLine Solutions, and Kirkland & Ellis LLP is legal counsel. Credit Agricole SA, HSBC Bank, and Societe Generale SA provide the loan financing.
Abry Partners bought LanguageLine $720 million in 2004 and terminated the attempts of selling or listing of the company in 2010.