Announced
Completed
Financials
Sources
Tags
artificial intelligence
Majority
translation technology
Auto Technology
Single Bidder
Completed
South Korea
Acquisition
Private Equity
Private
Friendly
Synopsis
A STIC Investments-led consortium, which also included SoftBank Korea, Korea Investment Partners and Korea Investment Securities, completed the acquisition of SYSTRAN, a provider of AI-based translation technology. Financial terms were not disclosed. "This acquisition is exciting and will give us more resources to increase our innovation, delivery speed and geographical footprint, enabling us to further expand through our new Cloud Marketplace offering as well as provide secure, on-premises or cloud-based customized translation products for all industries and organizations of all sizes," Jean Senellart, SYSTRAN CEO.
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