SDL stumps up $60m for rival Trados

And that translates to...

SDL International has announced a $60m takeover of US-based Trados.

SDL is among the three largest providers of translation services - the other two are Bowne Global and Lionbridge - though it is the most focused on technology rather than services which enable communication across languages, said VP worldwide marketing Terry Lawlor, speaking about the deal.

"We have a fully rounded solution for the enterprise," he told silicon.com.

Trados specialises in an area known as translation memory technology, where SDL was making inroads. Trados has 3,500 enterprise customers.

SDL, which is becoming one of the UK's larger software vendors in terms of revenue, has traditionally been strong in areas such as high-tech, manufacturing and consumer electronics, where it can cite customers such as Canon, Philips and Sony. Ninety per cent of its business is done outside the UK, around half of it with US companies.

The deal will mean SDL borrowing £20m to finance the acquisition. It will require shareholder approval, expected at an EGM.