Bell Gully acts on Straker Translations IPO

by Duffie Osental02 Nov 2018

Global translations provider Straker Translations Limited was recently listed on the Australian Securities Exchange (ASX), with Bell Gully advising the Auckland-based company on its initial public offering (IPO).

The IPO raised around A$21.2 million, putting the company’s value at approximately A$89 million. The New Zealand elements of the transaction were led by Bell Gully partner Dean Oppenhuis.

Straker Translations is a cloud-enabled translation services provider that uses a hybrid platform that allows human translators to deliver fast and accurate translations to customers around the world. The company has a presence across nine countries, including the US, UK, and Singapore.

Production centers around the world enable Straker Translations to provide continuous 24/7 service, liaising with over 13,000 professional translators.

With the proceeds of its IPO, the newly-listed company now plans to develop new products, improve their marketing and sales efforts, and fund future acquisition activity.  In the past two financial years, Straker has raised NZ$22.5 million and purchased four overseas companies.