TransPerfect has acquired UK-based VDR solutions company, Sterling Technology. The financial terms of the agreement were not disclosed, a press release reported.
“This acquisition is recognition of the success of Sterling’s employees and leadership team in growing our company to become the leading European provider of virtual data room solutions. The shareholders and leadership team of Sterling believe that TransPerfect is the ideal strategic new owner for our business,” Sterling CEO Geoff Keating said. “Being part of a much larger, successful global enterprise will provide increased growth opportunities for our business and employees as well as access to new markets. For our customers and users, Sterling will continue to deliver the same premium virtual data room solutions and service excellence they expect from us.”
The collaboration will strengthen the business’s ability to secure data, execute business process automation and do high-stakes dealmaking.
Sterling’s operations will continue to be overseen by Keating, who is scheduled to join TransPerfect’s senior management team alongside a group of Sterling executives. Keating has been fulfilling his role as CEO since 2008 and has contributed to the company’s operations both before and after its rupture from Sterling Financial Print.
“We have admired Sterling’s strong reputation and leadership position in Europe. It is exciting to have them as part of our global team, and I have no doubt we will achieve great things for our clients. We welcome everyone at Sterling to the TransPerfect family,” TransPerfect President and CEO Phil Shawe said.
TransPerfect received financial and legal advice from CDX Advisors and law firms Baker Botts and Simons Muirhead Burton, while Sterling appointed RSM UK and Ward Hadaway for representation.
With a presence in over 187 countries and 90 industries, Sterling’s VDR solutions ensure a smooth file sharing and content collaboration process. The company has now established seven major European financial centers.
“Sterling is trusted to deliver exceptional levels of service on the most critical transactions for the M&A, corporate development, real estate, capital markets, private capital, banking and legal communities,” a recent press release explains.