Frontier Capital (Frontier), a Charlotte-based growth equity firm focused exclusively on software and tech-enabled business services companies, has sold MultiLing, a provider of global intellectual property (IP) translation and support services, to Questel, a global online IP service provider.
Through its proprietary Savanta cloud platform that leverages digital workflow, artificial intelligence and a global network of 1000-plus linguists, MultiLing provides skilful, accurate, cost-effective patent translation services. The company serves the world’s most demanding and sophisticated patent filers in over 200 unique language pairs, and has translated over 1.6 billion words for its diverse client base of blue-chip corporations and law firms across multiple end markets. Adding MultiLing’s complementary platform to last year’s acquisition of ITIP allows Paris-based Questel to offer a turnkey solution to clients who wish to file patent applications in multiple countries.
Frontier partnered with MultiLing in 2013 to help drive initiatives to enhance and refine the Company’s solution and go-to-market strategy that would cement MultiLing’s market leadership in global patent translation. During Frontier’s partnership, the Company also made talent and infrastructure investments that fuelled the new strategy and growth.
“We found in Frontier, not only an investor, but a partner whose insights, advice, and leadership had a direct and positive impact on MultiLing, our employees, and myself,” says MultiLing CEO and founder Michael Sneddon. “Their experience, commitment to excellence, sense of fairness, and intrinsic integrity were key factors in our successful partnership. It has been a pleasure working with the entire Frontier team. They have kept their word. Always.”
“MultiLing has a long history of innovation and industry best-practices, and will continue to deliver a high quality, efficient solution for customers in the next leg of their journey with Questel,” says Frontier Partner Michael Ramich, who led the MultiLing investment team. “It is gratifying to have the opportunity to work with entrepreneurs like Michael Sneddon and play a role in transforming their growing business into a global market leader.”
Houlihan Lokey and Womble Bond Dickinson acted as exclusive financial advisor and legal representative, respectively. Terms of the transaction have not been disclosed.
