Automated Language Processing Systems Inc., a Salt Lake-based language translation services company, has agreed to acquire the remaining 80 percent ownership of Interlingua/TTI for $6.7 million.
Interlingua/TTI is a British corporation that provides technical translation services and is the largest translation agency in Europe with 14 United Kingdom offices as well as offices in Barcelona, Hong Kong and Singapore.An Automated Language spokesman estimated Interlingua/TTI will have profitable sales of $10 million for 1988. Terms of the transaction included a combination of cash, Automated Language stock and notes payable. The signed agreement will take effect within the next 30 days.
In addition to Interlingua/TTI, the company has acquired in the past four months W.D. Haehl GmbH, the largest translation agency in West Germany; Interdoc SARL, France; and Multiscript International, Canada.
"Our estimated first-quarter 1988 revenues of $5 million will exceed revenues for all of 1987," said Automated Language President A.T. Zirkle.
"While our size and capabilities may exceed our competition by a factor of three, we are still servicing a small fraction of this fragmented $10 billion worldwide market."