Parent Company of Language Line Holdings, Inc. and Language Line, Inc. Announces Acquisition of Leading U.K. Language Services Provider; Combination Brings Market-Leading Language Support Solutions to Growing Market.
Both companies provide high quality language support solutions to a growing blue chip customer base that enable customers to increase revenue and meet regulatory requirements. Services provided include over-the-telephone and face-to-face interpretation and document translation. The combined organizations will leverage their knowledge and expertise acquired in the last 20 years to provide better customer focus and service, a greatly improved telephone interpretation product, and an expanded product line.
"This acquisition is in line with our strategy to grow the global language support marketplace. I am excited by this opportunity to extend our customer base and our interpreter network into the United Kingdom and Europe," said Dennis Dracup, President & CEO of Language Line Holdings, LLC.
"As I look into the future, I am encouraged by the synergies that can be gained by both businesses. The geographic distribution of our client base and work force are complementary. The expertise of our work force is complementary. Most importantly, both organizations are passionate about helping our customers break down language barriers and better service their own clientele," continued Dracup.
The transaction has been structured as an acquisition by the parent company, Language Line Holdings, LLC, with both the U.S. and U.K. companies operating as separate legal entities. Through an arms-length services agreement, Language Line U.K. will leverage the U.S. company's global network of interpreters, technology and infrastructure to deliver services to its customers.
The acquisition will be funded by equity investments by Language Holdings, LLC majority shareholder, ABRY Partners, LLC, and management, and debt underwritten by the Royal Bank of Scotland. The borrowing to make this acquisition is not an obligation of Language Line Holdings, Inc. or Language Line, Inc. The transaction is expected to close by year-end.
About Language Line Holdings, LLC
LLH, LLC is the parent company of Language Line Services, the industry leader in the provision of language support services. It provides interpreting and document translation services to health care organizations, businesses, and government agencies located in the United States, Canada and the United Kingdom.
|Printer friendly Cite/link Email Feedback|
|Article Type:||Company Profile|
|Date:||Nov 8, 2005|
|Previous Article:||MatrixOne Reports Financial Results for Third and Fourth Quarter of Fiscal 2005.|
|Next Article:||Prentiss Properties Trust Announces Record Date for Special Shareholder Meeting.|