TransPerfect CEO Phil Shawe Completes Buyout Of His Co-Founder In Court-Approved Sale
Company Also Announces Record Results for 2017 Followed by Strongest Q1 in TransPerfect History
TransPerfect, the world’s largest provider of language and technology solutions for global business, today announced that Co-Founder Phil Shawe has completed the purchase of the remaining shares of TransPerfect Global, Inc. not already controlled by Phil and Shirley Shawe, allowing the company to move forward under consolidated ownership.
Mr. Shawe will continue to lead the day-to-day operations of the organization as he has done for the past 25 years, in the role of President and CEO. Mr. Shawe was previously Co-CEO. No major operational changes are expected as a result of the transaction, which marks the end of a court-approved sale process.
TransPerfect has delivered 100 consecutive quarters of profitable growth, making it one of the most successful companies in America. From its start in an NYU dorm room 25 years ago, TransPerfect has grown to be the largest company in the language industry, with $615 million in revenue in 2017. Most recently, TransPerfect posted Q1 2018 revenues totaling $154 million, an increase of nearly 16% over the same period in 2017.
“This is a historic day for TransPerfect. I want to thank the employees, who have driven the company’s continued success over the last 25 years. I am making a promise to each of you who have stood by this company: We will continue to grow, to innovate, and to lead—and we will continue to do so as a team—and with our clients’ best interests at heart,” said Shawe. “The message to our employees, our vendors, and our clients is the same: Ful l steam ahead.”
The company confirmed it will continue making significant investments in expansion and innovation, and has multiple major technology product releases slated for 2018. In addition, the company plans to continue its history of profitable growth, creating jobs, further expanding its global footprint, and pursuing strategic mergers and acquisitions—all with the overarching purpose of better serving the international business requirements of its prestigious and ever-growing client base.