Toronto, Ontario (PRWEB) June 28, 2011
Firmex, a leading virtual data room provider, announced its collaboration with Linguistic Systems, Inc. to provide secure translation services for its clients. Linguistic Systems Inc. is a leading translation services company whose clientele includes more than half of the Fortune 500 and most of the Fortune 100.
Dealmakers around the world are increasingly looking to deploy their capital and resources into foreign markets and take advantage of growing populations in the developing world. “A growing number of our clients are managing large cross-border deals with international stakeholders, and have a need for translation services on complex business transactions involving multiple languages. Working with Linguistic Systems Inc. to provide Firmex clients with translation services is a natural fit.” said Joel Lessem, CEO of Firmex.
According to the recent PwC report on US Mid-Year M&A Outlook 2011, the value of outbound M&A deals for 2011 has almost doubled compared to the same time last year, from 334 deals in the first five months of 2010, totalling $46 billion, to 349 outbound deals in the first five months of 2011, totalling $84 billion.
Joel continued, “Companies focused on growth are getting more aggressive in pursuing cross-border transactions with high growth potential. It’s a given that a cross-border deal is more likely to include unknowns or special regional circumstances that elevates risk, be it in day-to-day execution of the deal or the proper assessment of deal valuations. An accurate translation developed by experts helps key stakeholders to identify any special circumstances and take the necessary steps to mitigate their risks.”
Firmex is used for managing financial transactions from M&A deals to corporate finance, litigation, clinical studies, procurement, and regulatory compliance. When translation services are required for documents included in these critical exchanges, clients can make the translation request through Firmex, and Linguistic Systems Inc. will manage the translation requirements for any number of documents, in any format, in more than 115 languages.
Joel added, “We chose to work with Linguistic Systems because of their focus to deliver automation that streamlines the processing, review and analysis of large amounts of foreign language documents. As a founding member of the TAUS Data Association, they have a commitment to maintaining standards of translation quality through both interoperability and innovation.”
“By teaming up with Firmex, we can provide their clients with the benefits of comprehensive translation services that draw on our deep expertise in the needs of businesses to obtain more transparency for more efficient cross-border transactions,” said Mark Ettinger, Vice President, Business Development of Linguistic Systems, Inc.
About Linguistic Systems, Inc.
Linguistic Systems, Inc. (LSI) is one of the largest providers of language translation services in the United States. LSI's portfolio includes translation to/from 115 languages, software localization, DTP, audio-visual conversions, consecutive and simultaneous interpreting services, foreign brand name analysis, and machine translation with post-editing. Founded in 1967, LSI has a talent pool of more than 6,000 carefully screened translation and interpreting professionals tested for subject knowledge and translation/interpreting expertise. The company's clientele includes more than half of the Fortune 500 and most of the Fortune 100. Linguistic Systems, Inc. is an ISO 9001:2008 and EN 15038:2006 certified company and a founding member of the Translation TAUS Data Association. http://www.linguist.com
Firmex is a leading solution provider for sharing large volumes of highly confidential documents for commercial and financial transactions, litigation, and compliance. Thousands of organizations worldwide and over 100,000 users trust Firmex data rooms to exchange millions of critical documents each year, on projects worth millions and billions of dollars. More information about Firmex can be found at http://www.Firmex.com