Like Entalize

announced 3/25/2016 via Company Press Release

Pole To Win Co., Ltd., will acquire Entalize

synopsis: Pole To Win announced at a meeting of the board of directors that it will acquire Entalize. Entalize, based in Japan, has carried out the localization of several games. Entalize is a game localization company specializing in the localization of English-Japanese titles.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services. "
target: Entalize
Entalize is a game localization company specializing in the localization of English-Japanese titles.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/17/2020 via Company Press Release

Keywords Studios, acquired Jinglebell Communications

synopsis: Keywords Studios has announced the acquisition of Jinglebell Communications. Founded in 1981 and based in Milan, Italy, Jinglebell is a boutique recording studio that provides audio recording, music production and sound design for video games and advertisements.
buyer: Keywords Studios (AIM:KWS:$451.13)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Jinglebell Communications
Founded in 1981 and based in Milan, Italy, Jinglebell is a boutique recording studio that provides audio recording, music production and sound design for video games and advertisements.
price ($mm)
$2.13
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/18/2019 via BNC Analysis

Keywords Studios, acquired Syllabes

synopsis: Keywords Studios, an international technical services provider to the global video games industry, has acquired Montreal-based Syllabes, a company that specializes in audio recording and casting services in French and English for the video games industry.
buyer: Keywords Studios (AIM:KWS:$451.13)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Syllabes
Montreal-based Syllabes specializes in audio recording and casting services in French and English for the video games industry.
price ($mm)
$0.36
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.7x
EV / EBITDA
announced 9/19/2019 via Company Press Release

Keywords Studios, will acquire TV+SYNCHRON

synopsis: Keywords Studios, an international technical services provider to the global video games industry, will acquire TV+SYNCHRON (TVS), a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
buyer: Keywords Studios (AIM:KWS:$451.13)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: TV+SYNCHRON
TV+SYNCHRON (TVS) is a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
price ($mm)
$4.09
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/6/2019 via BusinessWire

TransPerfect Translations International, Inc., acquired MoGi Group

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, has acquired MoGi Group, a Dublin-based gaming solutions house recognized as a premier partner for studios, developers, and content owners in the gaming space. MoGi provides video game localization, community management, player support, and more.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. More than 5,000 global organizations employ TransPerfect’s GlobalLink Product Suite to simplify the management of multilingual content. The company is fully ISO 9001 and ISO 17100 certified. "
target: MoGi Group
Dublin-based MoGi Group provides world-class video game localization, community management, player support, quality assurance and games testing, voice-over recording, cybersecurity, tool development, art design, and age rating services to over 650 satisfied clients worldwide.
price ($mm)
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closed 8/9/2017 via BNC Analysis

Keywords Studios, acquired La Marque Rose, Asrec, Dune Sound and Around the Word

synopsis: Keywords Studios has acquired entertainment localisation business La Marque Rose SARL, video game localisation company Asrec SAS, and Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, which provides audio recording and localisation services for the video game industry.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: La Marque Rose, Asrec, Dune Sound and Around the Word
La Marque Rose is an entertainment localisation business. Asrec SAS is a video game localisation company. Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, provide audio recording and localisation services for the video game industry. The companies are based in France.
price ($mm)
$7.76
rev ($mm)
$11
EBITDA ($mm)
EV / rev
0.9x
EV / EBITDA
closed 12/28/2016 via BNC Analysis

Keywords Studios, acquired Sonox

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announces that it has acquired Sonox Audio Solutions. Sonox provides audio recording and localisation services to video game companies targeting Spanish and Latin American markets.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Sonox
Sonox is a dynamic, creative and experienced localization studio. They offer tailor-made solutions for audio engineering and localization for all kinds of projects, mainly video games and films. Sonox also provides professional translation and proofreading of texts.
price ($mm)
$0.68
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/17/2016 via BNC Analysis

Keywords Studios, acquired Enzyme Testing Labs Inc.

synopsis: Keywords Studios, the world’s leading technical services provider to the global video games industry, announced that it has acquired Enzyme Testing Labs. Based in St-Jerome, Quebec and with offices in Montreal and in Kawasaki, Enzyme’s strengths are in functional QA and localisation testing of video games for leading game publishers and developers.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Enzyme Testing Labs Inc.
Enzyme is a privately held, North-American based company, focused on video game Quality Assurance (QA). The organization has over ten years of experience in video game QA testing with offices in St-Jerome - Quebec, Montreal - Quebec and Kawasaki - Japan.
price ($mm)
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closed 4/13/2016 via BNC Analysis

Keywords Studios, acquired Synthesis International Srl

synopsis: Keywords Studios Plc, has acquired Synthesis, the largest Italian company offering video game localization. Synthesis has been translating video game hits for 15 years, always remaining true to the original text.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Synthesis International Srl
Synthesis was founded in Milan in 1995 and quickly became the largest Italian company offering video game localization. Synthesis has been translating video game hits for 15 years, always remaining true to the original text.
price ($mm)
$19
rev ($mm)
$19
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
announced 5/9/2014 via BNC Analysis

Keywords Studios, will acquire Binari Sonori

synopsis: Keywords Studios PLC, an international technical service provider to the global Video Game Industry, has agreed to acquire Binari Sonori. Binari Sonori is a provider of outsourced voice-over and translation services to the international video games market with operations in Milan, Italy and Los Angeles in the US.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords is an international technical service provider to the global Video Game Industry with offices in Dublin, Tokyo, Seattle, Montreal and Rome. Working on a worldwide basis, they provide a range of linguistic, testing, and quality control services to Video Game Developers and Publishers alike. "
target: Binari Sonori
Binari Sonori is a global leader in localization, translation, and production of international contents for digital entertainment, with a strong focus and unparalleled qualifications in the localization of video games.
price ($mm)
$16
rev ($mm)
$14
EBITDA ($mm)
EV / rev
1.5x
EV / EBITDA
announced 10/18/2017 via PR Newswire

RWS Holdings plc, will acquire Moravia

synopsis: Moravia announced that RWS Holdings plc has signed a purchase agreement to acquire the Moravia IT Group companies. Based in the Czech Republic, Moravia is a globalization solution provider, enabling companies in the information technology, e-learning, and life sciences industries to enter global markets with high quality multilingual products.
buyer: RWS Holdings plc (AIM:RWS:$471.81)
Based in the UK, RWS is a leading provider of patent translations and one of the leading players in the provision of intellectual property support services and a market leader in life sciences translations and linguistic validation as well as a language service provider in other technical areas. "
target parent: Clarion Capital Partners, LLC
target: Moravia
Based in the Czech Republic, Moravia is a leading globalization solution provider, enabling companies in the information technology, e-learning, and life sciences industries to enter global markets with high quality multilingual products.
price ($mm)
$320
rev ($mm)
$159
EBITDA ($mm)
$27
EV / rev
2.0x
EV / EBITDA
11.8x
closed 2/16/2015 via PR Newswire

Clarion Capital Partners, LLC, acquired Moravia

synopsis: Moravia, a leading globalization solution provider, enabling companies in the information technology, e-learning, and life sciences industries to enter global markets with high-quality multilingual products, announced that Clarion Capital Partners, a New York-based middle market private equity firm, has acquired a majority interest in the company.
buyer: Clarion Capital Partners, LLC
Clarion Capital Partners, LLC is a private equity investment firm which seeks to make primarily control private equity investments in a diversified portfolio of middle-market companies. The firm focuses in industries such as Business, Healthcare, Financial, Consumer Products, Retail, and Media. "
target: Moravia
Moravia's services address the complex localization demands of leading global brands and fast-growing companies, primarily in the IT and life science industry sectors.
price ($mm)
rev ($mm)
$100
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 1/7/2015 via BNC Analysis

Keywords Studios, acquired Reverb Localization

synopsis: Keywords Studios, the international technical services provider to the global video games industry, completed the acquisition of Reverb Localization. Founded in 2012 and based in Rio de Janeiro, Reverb provides localisation and audio management services for Brazilian Portuguese for leading games including World of Warcraft and Magic the Gathering.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Reverb Localization
Reverb Localization is a game & IT localization company located in Rio de Janeiro. With their highly qualified translators and high end translation tools, Reverb offers spotless translation & localization services. They have in-house translators and a freelancer pool of seasoned professionals.
price ($mm)
$0.24
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/10/2019 via BNC Analysis

Morningside Translations, Inc., acquired Net-Translators

synopsis: Morningside, a leading translation services company, has acquired Net-Translators, a leading translation, localization, and multilingual testing company based in Isreal. Net-Translators helps medical-device manufacturers, software developers and hardware companies prepare their products and services for worldwide deployment.
buyer: Morningside Translations, Inc.
Morningside is a leading translation services company partnering with the Am Law 100 and Fortune 500 companies around the globe. Headquartered in New York City, they maintain a powerful global network of language consultants and legal professionals in over 100 languages and dialects. "
target: Net-Translators
Net-Translators is a leading translation, localization, and multilingual testing company based in Isreal. Net-Translators helps medical-device manufacturers, software developers and hardware companies prepare their products and services for worldwide deployment.
price ($mm)
rev ($mm)
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EV / EBITDA
closed 6/10/2020 via Company Press Release

RWS Holdings plc, acquired Webdunia

synopsis: RWS Holdings Plc has informed about the acquisition of Webdunia. With over 600 employees, and offices in India, Thailand and the US, Webdunia is a leader in translation, localization and technology services to technology and digital companies in the Indian and North American markets.
buyer: RWS Holdings plc (AIM:RWS:$471.81)
Based in the UK, RWS is a leading provider of patent translations and one of the leading players in the provision of intellectual property support services and a market leader in life sciences translations and linguistic validation as well as a language service provider in other technical areas. "
target: Webdunia
With over 600 employees, and offices in India, Thailand and the US, Webdunia is a leader in translation, localization and technology services to technology and digital companies in the Indian and North American markets.
price ($mm)
$21
rev ($mm)
$14
EBITDA ($mm)
$3
EV / rev
1.5x
EV / EBITDA
6.8x
announced 10/25/2017 via BNC Analysis

Keywords Studios, will acquire VMC Consulting Corporation

synopsis: Technical services provider Keywords Studios is set to buy QA and customer support provider VMC from owner Volt Information Sciences. VMC provides functional testing, customer support and localization services both in and outside of the games industry.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target parent: Volt Information Sciences, Inc.
target: VMC Consulting Corporation
VMC combines technical expertise and vigilant dedication to deliver unmatched development, QA, localization, and technical support services. VMC serves as a seamless extension of their client's team to improve product quality, accelerate productivity, and maximize customer satisfaction.
price ($mm)
$66
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/1/2021 via BusinessWire

Lionbridge Technologies, Inc., acquired Rocket Sound LLC

synopsis: Lionbridge, the premier video game globalization and publishing services partner, has acquired Rocket Sound, an elite provider of sound services for video games and other media. They offer industry-leading facilities and a team with many decades of experience reliably supporting high-stakes projects with demanding artistic and technical needs.
buyer parent: H.I.G. Capital
buyer: Lionbridge Technologies, Inc. (LIOX:$556.65)
Lionbridge is the world’s largest language services provider, offering leading translation and localization services and global marketing solutions. They help organizations achieve international success through customer service, advanced technologies, and a network of professional translators. "
target: Rocket Sound LLC
Rocket Sound is an elite provider of sound services for video games and other media. Founded in 2013, they offer industry-leading facilities and a team with many decades of experience reliably supporting high-stakes projects with demanding artistic and technical needs.
price ($mm)
rev ($mm)
EBITDA ($mm)
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closed 11/20/2019 via BNC Analysis

TransPerfect Translations International, Inc., acquired Chulengo

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, has acquired Chulengo, an Argentina-based localization and post-production company. They have been working in the industry for more than six years now, for clients from all over the world.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 90 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. "
target: Chulengo
Chulengo is an Argentina-based localization and post-production company. They have been working in the industry for more than six years now, for clients from all over the world.
price ($mm)
rev ($mm)
EBITDA ($mm)
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EV / EBITDA
closed 10/21/2019 via BusinessWire

TransPerfect Translations International, Inc., acquired Sublime Subtitling & Translation

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, announced the acquisition of Sublime Subtitling & Translation, a company based in Spain that specializes in audiovisual translation and subtitling for global entertainment clients.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 90 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. "
target: Sublime Subtitling & Translation
Sublime is a Translation and Subtitling Company based in Spain. They offer a wide range of solutions including Translation, Subtitling and Localization in multiple languages for international, regional, and local content owners, aggregators, broadcasters, and distributors.
price ($mm)
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EV / rev
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closed 10/21/2019 via BusinessWire

TransPerfect Translations International, Inc., acquired Lassostudios

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, acquired Lassostudios, a Madrid-based company that specializes in dubbing, voiceover, subtitling, audio description, closed captioning, and other post-production services.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 90 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. "
target: Lassostudios
Founded in Madrid in 2011, Lassostudios specializes in dubbing, voiceover, subtitling, audio description, closed captioning, and other post-production services, delivered primarily to entertainment clients in Spain and elsewhere in Europe.
price ($mm)
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announced 3/25/2016 via Company Press Release

Pole To Win Co., Ltd., will acquire Entalize

synopsis: Pole To Win announced at a meeting of the board of directors that it will acquire Entalize. Entalize, based in Japan, has carried out the localization of several games. Entalize is a game localization company specializing in the localization of English-Japanese titles.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services. "
target: Entalize
Entalize is a game localization company specializing in the localization of English-Japanese titles.
price ($mm)
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EBITDA ($mm)
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announced 3/12/2018 via Reuters

Pitcrew Co., Ltd., will acquire Situs Management Inc.

synopsis: Pitcrew Co.,Ltd announced that it will acquire a 100 percent stake in Situs Management Inc. Founded in 2000, Situs Management is an IT managed service provider based in Japan. Situs provides next generation system operation management services for public cloud, private cloud, and on-premise networks.
buyer parent: Pole To Win Co., Ltd.
buyer: Pitcrew Co., Ltd.
Pitcrew Co., Ltd. was founded in 2000 as Japan's first internet monitoring services company. Pitcrew offers its web investigation and server monitoring services that investigate and report on the detection of illegal access and ID use as well as advertising reviews and copyright violations. "
target: Situs Management Inc.
Founded in 2000, Situs Management is an IT managed service provider based in Japan. They provide next generation system operation management services for public cloud, private cloud, and on-premise networks.
price ($mm)
$1.86
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/25/2016 via Company Press Release

Pole To Win Co., Ltd., will acquire Entalize

synopsis: Pole To Win announced at a meeting of the board of directors that it will acquire Entalize. Entalize, based in Japan, has carried out the localization of several games. Entalize is a game localization company specializing in the localization of English-Japanese titles.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services. "
target: Entalize
Entalize is a game localization company specializing in the localization of English-Japanese titles.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/12/2015 via PR Web

Pole To Win Co., Ltd., acquired Side UK Ltd.

synopsis: Pole To Win, the global provider of video games and e-commerce services announced it has acquired award-winning creative services company Side UK Limited, Europe’s leading provider of casting services to the video games industry.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services. "
target: Side UK Ltd.
Side UK Limited specializes in character performances for video games and is the largest English voice production company in the UK. They are Europe’s leading provider of casting services to the video games industry.
price ($mm)
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announced 8/22/2012 via BusinessWire

Pole To Win Co., Ltd., will purchase Worldwide Interactive Entertainment Business from e4e Inc.

synopsis: Pole To Win Co., Ltd announced it has signed a definitive agreement to acquire the worldwide Interactive Entertainment division of e4e Inc. Interactive Entertainment is the premier service partner to the games industry. They work with leading developers and publishers across Console, PC, Mac, Social Gaming, Casual Gaming and Mobile Applications.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win, a subsidiary of Poletowin Pitcrew Holdings, Inc., was established in 1994 in Japan covering a range of services over the past 18 years, primarily testing and localizing entertainment software. "
seller: e4e Inc.
e4e is an IT Enabled Services and Business Process Outsourcing Company with proven experience in delivering business value through cost reduction, process re-engineering and most importantly through enhanced service quality and superior customer experience in the existing and new markets.
price ($mm)
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closed 8/12/2020 via BNC Analysis

Testronic Laboratories Limited, acquired Whyttest SRL

synopsis: Service provider Testronic has acquired QA and customer support company Whyttest. 150 technicians from the firm, based in Romania and Serbia, will be joining Testronic, which will be taking the total headcount of the company to over 1,000 staff. Whyttest was founded in 2014 in Bucharest, Romania, by Marius Potirniche, who previously worked for Ubis
buyer: Testronic Laboratories Limited
Testronic are leaders in Quality Assurance, Localization Services, Compliance, and Certification, Testronic offers end-to-end Testing and QA solutions for the games and film/television industries. "
target: Whyttest SRL
Whyttest is a QA (quality assurance) and customer support company. Whyttest was founded in 2014 in Bucharest, Romania, by Marius Potirniche, who previously worked for 12 years at Ubisoft.
price ($mm)
rev ($mm)
EBITDA ($mm)
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closed 10/25/2018 via PR Newswire

GlobalStep, acquired Testology

synopsis: GlobalStep, a world leader in technology services to the Games Industry, announced its acquisition of Testology. Founded in 2006, Testology has been providing Quality Assurance Services to the video games industry out of its offices in Aldershot, located in close proximity to Guildford, a games industry hub in the UK.
buyer: GlobalStep
GlobalStep is a world leader in technology services. It's service offerings to the games industry include Quality Assurance, Localization, Quality Engineering, Player Support, and Play Test Data Analytics. "
target: Testology
Founded in 2006, Testology has been providing Quality Assurance Services to the video games industry out of its offices in Aldershot, located in close proximity to Guildford, a games industry hub in the UK.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/17/2016 via BNC Analysis

Keywords Studios, acquired Enzyme Testing Labs Inc.

synopsis: Keywords Studios, the world’s leading technical services provider to the global video games industry, announced that it has acquired Enzyme Testing Labs. Based in St-Jerome, Quebec and with offices in Montreal and in Kawasaki, Enzyme’s strengths are in functional QA and localisation testing of video games for leading game publishers and developers.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Enzyme Testing Labs Inc.
Enzyme is a privately held, North-American based company, focused on video game Quality Assurance (QA). The organization has over ten years of experience in video game QA testing with offices in St-Jerome - Quebec, Montreal - Quebec and Kawasaki - Japan.
price ($mm)
rev ($mm)
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announced 8/22/2012 via BusinessWire

Pole To Win Co., Ltd., will purchase Worldwide Interactive Entertainment Business from e4e Inc.

synopsis: Pole To Win Co., Ltd announced it has signed a definitive agreement to acquire the worldwide Interactive Entertainment division of e4e Inc. Interactive Entertainment is the premier service partner to the games industry. They work with leading developers and publishers across Console, PC, Mac, Social Gaming, Casual Gaming and Mobile Applications.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win, a subsidiary of Poletowin Pitcrew Holdings, Inc., was established in 1994 in Japan covering a range of services over the past 18 years, primarily testing and localizing entertainment software. "
seller: e4e Inc.
e4e is an IT Enabled Services and Business Process Outsourcing Company with proven experience in delivering business value through cost reduction, process re-engineering and most importantly through enhanced service quality and superior customer experience in the existing and new markets.
price ($mm)
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announced 8/21/2019 via BNC Analysis

Northedge Capital Partners, will acquire Catalis SE

synopsis: Catalis Group, a UK video game firm that's composed of; Testronic, a provider of quality assurance services, Kuju, a company that creates top-rated games, and Curve Digital, an award-winning digital games publisher, will be acquired by NorthEdge, a UK a private equity firm focused on lower mid-market buy-out and development capital transactions.
buyer: Northedge Capital Partners
Headquartered in the UK, NorthEdge manages £650m of private equity funds aimed at lower mid-market buy-out and development capital transactions. They are looking to invest in like-minded businesses who have real ambition and the potential to shape global markets from the regional powerhouses. "
target: Catalis SE (DB:XAE2:$29.89)
Catalis Group is a UK video game firm that covers every aspect of game testing, development and publishing. It’s composed of 3 companies; Testronic, a provider of quality assurance services, Kuju, a company that creates top-rated games, and Curve Digital, an award-winning digital games publisher.
price ($mm)
$109
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/3/2020 via GlobeNewswire

Computer Task Group Inc., acquired StarDust

synopsis: CTG, a leading provider of information technology (IT) solutions and services in North America and Western Europe, announced it has acquired StarDust, a leader in testing and quality assurance for digital services based in Marseille, France, and with operations in Montreal, Canada.
buyer: Computer Task Group Inc. (CTG:$394.17)
CTG (Computer Task Group) provides industry-specific IT services and solutions that address the business needs and challenges of clients in high-growth industries in North America and Western Europe. CTG also provides strategic staffing services for major technology companies and large corporations."
target: StarDust
StarDust is a leader in testing and quality assurance for digital services based in Marseille, France, and with operations in Montreal, Canada.
price ($mm)
$4.85
rev ($mm)
$7
EBITDA ($mm)
EV / rev
0.7x
EV / EBITDA
closed 7/31/2018 via Company Press Release

Acronis Inc., acquired T-Soft Ltd.

synopsis: Acronis, a global leader in cyber protection and hybrid cloud storage, announced that it has acquired software engineering company T-Soft. T-Soft has been providing Acronis with exceptional software development services since 2012. The Sofia-based subsidiary will change its name to Acronis Bulgaria.
buyer: Acronis Inc.
Acronis sets the standard for cyber protection and hybrid cloud storage through its innovative backup, anti-ransomware; disaster recovery, storage, and enterprise file sync and share solutions. Acronis protects all data in any environment, including physical, virtual, cloud, and mobile. "
target: T-Soft Ltd.
T-Soft is a software services company. T-Soft started providing highly efficient manual and automated software testing services. As a natural extension of their know-how, T-Soft added software development, technical support and technical writing to its portfolio of services.
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closed 8/9/2017 via PR Web

QA Mentor, Inc., acquired Zado Infotech Solutions India Pvt Ltd

synopsis: QA Mentor, Inc., the global award-winning, leading software quality assurance and testing services provider, has acquired Zado Infotech Solutions India Pvt Ltd, a provider of test automation solutions with specific focus on web, mobile and cloud applications. Zado ensures the reliability and performance of applications in diverse environments.
buyer: QA Mentor, Inc.
QA Mentor was established in 2010 with the objective of helping organizations improve their QA functions, optimize their QA process and become the best Software Testing QA Company in the world. "
target: Zado Infotech Solutions India Pvt Ltd
Zado Infotech Solutions is a provider of test automation solutions with specific focus on web, mobile and cloud applications. The company’s framework-driven approach to test automation ensures reliability and performance of applications in diverse environments and complexities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/1/2015 via BNC Analysis

Saksoft Limited, acquired 360Logica.com

synopsis: Saksoft, the information management specialist company, in a filing to the BSE, said it has acquired a 51% ownership stake in 360Logica Testing Services Private Limited, a leading offshore software testing company. The company provides independent testing services and QA consulting through dedicated offshore teams and onsite experts.
buyer: Saksoft Limited (NSEI:SAKSOFT:$41.94)
Saksoft is a leading provider of Information Management solutions to successful organizations around the world. They deliver success by helping clients to consolidate, organize and manage the vast volumes of data they collect. "
target: 360Logica.com
360logica is a leading offshore software testing company. Based in premier locations in India and the United States, 360logica provides independent testing services and QA consulting through dedicated offshore teams and onsite experts.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/5/2014 via Market Wire

Applause, acquired Testhub

synopsis: Software testing leader uTest rebranded as Applause and announced its entry into the EU market by acquiring top German crowdtesting company, Testhub, which will become the European headquarters for Applause operations. As part of the acquisition, Berlin Technologie Holding becomes a strategic investor in Applause EU.
buyer: Applause
Launched in 2008 as uTest, Applause enables companies to deliver digital experiences-- from web to mobile and beyond. By combining in-the-wild testing services, software tools and analytics, it helps companies achieve the 360° app quality they need to thrive in the modern apps economy. "
target: Testhub
Testhub is an expert in crowd-based software testing. With the help of the Crowd intelligence websites, e-commerce shops, mobile applications (apps) as well as additional software products can be tested under real conditions by a multitude of real testers and their devices.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/14/2011 via BusinessWire

Computer Sciences Corporation, acquired AppLabs Technologies

synopsis: Computer Sciences Corporation (CSC) announced that it has acquired AppLabs Technologies Private Limited, the world’s largest pure-play software testing and quality management service provider. The acquisition vaults CSC into a leadership role in providing application testing services in the high growth discrete testing market.
buyer: Computer Sciences Corporation (DXC:$18,892.00)
Computer Sciences Corporation is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, the Managed Services Sector and the North American Public Sector. "
target parent: Sequoia Capital
target: AppLabs Technologies
AppLabs Technologies is the world's largest software testing and quality management company. It provides both quality assurance and third-party validation through a combination of consulting, outsourcing, offshore and specialist services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/27/2005 via PR Newswire

AppLabs Technologies will be merged with VisualSoft Technologies,

synopsis: AppLabs Technologies, a specialist in testing, development and certification solutions; eSolutions, and VisualSoft Technologies, a software solution provider operating in the areas of outsourced product development and advanced technology solutions, announced today that the three companies plan to merge together.
buyer: VisualSoft Technologies
VisualSoft Technologies is a leading software solution company providing end to end solutions covering the full life cycle of software development. "
target: AppLabs Technologies
AppLabs Technologies is a global IT services company specializing in software testing and development, with an emphasis on quality assurance, performance, certification and hardware testing.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/1/2020 via GlobeNewswire

Gofore Oy, purchased Qentinel Finland from Qentinel Pace

synopsis: Qentinel has sold its consulting arm, Qentinel Finland, to Gofore, a Finland-based digitalization specialist. Qentinel has transitioned to a product only company, focusing on its robotic software testing platform, Qentinel Pace. Qentinel Finland is an professional IT services provider specialized in software quality assurance.
buyer: Gofore Oy (HLSE:GOFORE:$81.58)
Gofore is a Finland-based digitalization specialist with international growth plans. Gofore enables companies to renew their businesses, helps them transform their organizations and operations, helps reshape their culture, and designs and delivers end-to-end technical solutions. "
seller: Qentinel Pace
Qentinel Finland is the consulting arm of Qentinel Pace, a highly scalable, AI powered cloud-based robotic software testing platform. Qentinel Finland is an professional IT services provider specialized in software quality assurance and testing automation.
price ($mm)[EV]
$10 [$9]
rev ($mm)
$14
EBITDA ($mm)
$2
EV / rev
0.8x
EV / EBITDA
5.5x
announced 10/25/2017 via BNC Analysis

Keywords Studios, will acquire VMC Consulting Corporation

synopsis: Technical services provider Keywords Studios is set to buy QA and customer support provider VMC from owner Volt Information Sciences. VMC provides functional testing, customer support and localization services both in and outside of the games industry.
buyer: Keywords Studios (AIM:KWS:$451.13)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target parent: Volt Information Sciences, Inc.
target: VMC Consulting Corporation
VMC combines technical expertise and vigilant dedication to deliver unmatched development, QA, localization, and technical support services. VMC serves as a seamless extension of their client's team to improve product quality, accelerate productivity, and maximize customer satisfaction.
price ($mm)
$66
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/5/2017 via BNC Analysis

Altran Technologies S.A., will acquire Global Edge Software Limited

synopsis: Altran announced that it will acquire GlobalEdge Software Limited, an India-based product engineering company specialized in embedded software solutions and IoT Solutions. GlobalEdge Software serves mostly the Semiconductor, Automotive, Consumer Electronics, Telecom, IoT and Industrial sectors.
buyer: Altran Technologies S.A. (ENXTPA:ALT:$2,646.51)
As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate. The Group has provided its expertise to key players in the Aerospace, Automotive, Defence, Energy, Finance, Life Sciences, Railway, and Telecom sectors, among others. "
target: Global Edge Software Limited
GlobalEdge Software is an embedded product engineering and testing services company working in the Semiconductor, Automotive, Consumer Electronics, Telecom, IoT and Industrial sectors. With a portfolio of products, middleware solutions and test automation frameworks, they give a time-to-market edge.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/17/2017 via Market Wire

LogiGear Corporation, acquired True North Service, Inc.

synopsis: LogiGear, a world leader in software testing solutions, announced that it has completed the acquisition of True North Service (TNS), a provider of contract staffing and software testing services to technology companies.
buyer: LogiGear Corporation
LogiGear Corporation provides leading-edge software testing technologies and expertise, along with software development services that enable companies to accelerate business growth while having confidence in the software they deliver. "
target: True North Service, Inc.
True North Service (TNS) is a provider of contract staffing and software testing services to technology companies. TNS was established in Seattle in 2007 as a mobile content certification house testing games and apps for developers, operators, and storefronts before TNS expanded its services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 1/27/2016 via Reuters

VERISERVE Corporation, will acquire GIOT Corporation

synopsis: Verserve Corporation will acquire additional shares in GIOT Corporation to raise its stake in the company to 96.51 percent. GIOT Corporation offers inter-operability verification services of IT equipment. GIOT provides smart phone test and certification, technical support, and call center services.
buyer parent: Sumitomo Corporation
buyer: VERISERVE Corporation (TSE:3724:$53.71)
VeriServe is a quality verification service provider for IT related products. It has specialties in both Embedded area (such as mobile phones, car navigation systems, audio-visual products, etc) and Enterprise IT systems area. "
target: GIOT Corporation
GIOT Corporation, based in Japan, offers Internet of Things (IoT) interoperability testing.
price ($mm)
$0.44*
rev ($mm)
$2
EBITDA ($mm)
EV / rev
0.3x
EV / EBITDA
closed 6/11/2019 via BusinessWire

DXC Technology Company, acquired Luxoft

synopsis: DXC Technology, the world’s leading independent, end-to-end IT services company, has acquired Luxoft, a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies.
buyer: DXC Technology Company (DXC:$18,892.00)
DXC Technology is the world’s leading independent, end-to-end IT services company. The company’s technology independence, global talent and extensive partner network combine to deliver powerful next-generation IT services and solutions. "
target: Luxoft (LXFT:$910.70)
Based in Switzerland, Luxoft is a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies. Its offerings encompass strategic consulting, custom software development services, and digital solution engineering.
price ($mm)[EV]
$2,067 [$1,978]
rev ($mm)
$911
EBITDA ($mm)
$98
EV / rev
2.2x
EV / EBITDA
20.1x
closed 7/5/2017 via AP - Associated Press

GLI Group, acquired NMi Gaming

synopsis: The GLI Group has acquired NMi Metrology & Gaming Ltd. and related gaming assets (“NMi Gaming”) from NMi Certin, B.V. and related parties. NMi Gaming has more than 40 years of experience in the gaming industry and offers a full range of compliance testing and auditing services in its markets.
buyer: GLI Group
The GLI Group delivers the highest quality land-based, lottery and iGaming testing and assessment services. Through its Bulletproof brand, the group provides the highest level of service in IT hosting and security services, as well as IT Professional and Educational services. "
target parent: NMi Certin, B.V.
target: NMi Gaming
NMi Gaming has more than 40 years of experience in the gaming industry and offers a full range of compliance testing and auditing services in its markets. Its gaming laboratories are located in the Netherlands, United Kingdom, Canada, Italy, and Spain.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/16/2019 via Company Press Release

Accenture, will acquire Nytec

synopsis: Accenture, a global professional services company, has agreed to acquire Nytec Inc., an award-winning product innovation and engineering company. Nytec will become part of Accenture Industry X.0, which offers capabilities that drive the digital reinvention of industry.
buyer: Accenture (ACN:$47,949.38)
Accenture is a global professional services company, providing a range of services and solutions in strategy, consulting, digital, technology & operations. Accenture works at the intersection of business and technology to help clients improve their performance & create value for their stakeholders. "
target: Nytec
Nytec is an integrated consulting firm that turns ideas into lifestyle technology products for tier-one global and Fortune 100 companies. Nytec’s industry-leading Client Services provide customizable talent solutions to satisfy staffing requirements, either onsite, offsite, or project-based.
price ($mm)
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EBITDA ($mm)
EV / rev
EV / EBITDA

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Geography
Matching Companies
Ticker: AIM:KWS
 
 
 
 
 
 
 
 
Keywords Studios
Keywords Studios
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike.
year
2020
rev ($mm)
$451.13
EBITDA ($mm)
$61.46
EBIT ($mm)
$42.47
Net Income ($mm)
$26.03
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Ticker: TSE:3676
 
 
 
 
 
 
 
 
Digital Hearts Co., Ltd.
Digital Hearts Co., Ltd.
Digital Hearts is a global quality assurance and localization company that specializes in digital content. Digital Hearts provides testing, debugging, and localization services for video games on all platforms.
year
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rev ($mm)
$208.08
EBITDA ($mm)
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Ticker: TSE:3657
 
 
 
 
 
 
 
 
Pole To Win Co., Ltd.
Pole To Win Co., Ltd.
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services.
year
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rev ($mm)
$208.93
EBITDA ($mm)
$26.84
EBIT ($mm)
$21.12
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$10.31
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1356
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Ticker: TSE:3676
 
 
 
 
 
 
 
 
Digital Hearts Co., Ltd.
Digital Hearts Co., Ltd.
Digital Hearts is a global quality assurance and localization company that specializes in digital content. Digital Hearts provides testing, debugging, and localization services for video games on all platforms.
year
2021
rev ($mm)
$208.08
EBITDA ($mm)
$21.31
EBIT ($mm)
$17.52
Net Income ($mm)
$8.94
Employees
1330
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Ticker: AIM:KWS
 
 
 
 
 
 
 
 
Keywords Studios
Keywords Studios
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike.
year
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rev ($mm)
$451.13
EBITDA ($mm)
$61.46
EBIT ($mm)
$42.47
Net Income ($mm)
$26.03
Employees
9000
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Ticker: LSE:SPT
 
 
 
 
 
 
 
 
Spirent Communications plc
Spirent Communications plc
Spirent Communications plc. is the leading provider of verification, assessment, analytics, and device intelligence solutions. They enable those who deliver networks, connected devices, and communication services to provide a superior user experience.
year
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EBITDA ($mm)
$65.00
EBIT ($mm)
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