World News: 15:00 GMT Monday 11th February 2019. [TransPerfect via Globe Newswire via SPi World News]
NEW YORK and BARCELONA, Spain, Feb. 11, 2019 (GLOBE NEWSWIRE) -- TransPerfect, the world’s largest provider of language and technology solutions for global business, today announced an expansion of the company’s video and content solutions capabilities with the acquisition of Propulse Video, a Barcelona-based video production company. Financial terms of the agreement were not disclosed.
Propulse Video was founded in 2016 by entrepreneurs Erwan Drouet and Charles Moriceau; the company's mission is to create high-quality, original video content for clients to help them convey messages and tell stories through video. Specializing in both live action and animated video, Propulse quickly expanded to serve clients in multiple industries from the company’s headquarters in Barcelona, Spain. In the merger, TransPerfect expects to retain virtually the entire Propulse team, including welcoming Mr. Drouet and Mr. Moriceau as senior managers within its family of companies.
Demand for original video for web content, e-learning, social media, and global marketing is increasing at a rapid pace, and Propulse's expertise provides TransPerfect with the ability to service clients in need of a one-stop-shop for producing global video content.
Mr. Drouet stated, “TransPerfect has an impressive client base in industries in which Propulse also has a strong presence; industries with a significant and growing appetite for original video content. This gives the Propulse team great confidence that our core skill set is highly complementary to TransPerfect's overall business, which makes this deal a great fit. Clients of both companies will benefit from our enhanced service offerings, which in turn will help our businesses to grow and thrive together.”
Mr. Moriceau added, "Having spent extensive time with the TransPerfect team in recent months, we cannot stress enough how much the cultural fit between our companies helped drive our decision to join forces. It is clear that TransPerfect shares our undying commitment to client service. Further, not only does TransPerfect have a global footprint, but importantly, they also have large local presence right here in Barcelona. We’re beyond excited to begin collaborating and raising the bar for fresh and innovative video content solutions.”
Drouet and Moriceau will continue to lead Propulse's day-to-day operations as a division of TransPerfect. Propulse will maintain their existing office in Barcelona and will report to Senior Vice President of Production, Barnaby Wass, also based in Barcelona.
TransPerfect's President and CEO Phil Shawe concluded, “The trend toward corporations delivering more and more content via video is undeniable. We're always looking for ways to provide greater value to our clients, and we're constantly seeking to evolve to better meet their needs—adding Propulse's expertise to our existing service offerings will do just that. We look forward to working together and enthusiastically welcome their family to ours.”
Globe Newswire: 15:00 GMT Monday 11th February 2019
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