On 18 January 2018, Mayflower Language Services signed an agreement that changes the investment contract with Summa Linguae. Changes in the contract involve acquisition of 100% shares of Mayflower by Summa Linguae and particularise the process of complete integration of both the companies.
Mayflower Language Services and Summa Linguae (SUL) signed the first investment contract on 6 September 2016. According to this contract, SUL acquired 3922 shares in the increased initial capital of Mayflower, which corresponds to 25% of the initial capital of the Indian company. On the other hand, Mayflower acquired 191,130 ordinary bearer shares in the increased initial capital of Summa Linguae. The agreement, signed on 18 January, is a continuation of activities by both companies that aim at achieving synergy.
According to the contract, the operational integration of Mayflower and SUL will proceed in four stages. This will cover the alliance of sales and marketing, production, financial controlling, and other areas of operations of both the companies. SUL will have complete operational and financial control over Mayflower.
The Management Board of Summa Linguae has decided to preserve the identity of the Mayflower as a brand while it becomes a part of the Summa Linguae Group, which also includes Summa Linguae Romania based out of Bucharest. From the first quarter of 2018, the financial statements of SUL and Mayflower will also be fully consolidated. The consolidated revenue of the companies places the entire group among the top 100 language solution provider in the world.
For Mayflower, the merger with Summa Linguae is the next step towards strengthening its global presence and expand the portfolio of offered services.
Summa Linguae is a provider of technological and linguistic services, headquartered in Kracow, Poland. The Founder and President of Summa Linguae is Krzysztof Zdanowski. SUL is the only LSP listed on the Warsaw Stock Exchange. SUL’s business strategy is based on acquisitions and mergers, apart from organic development.
Mayflower Language Services is one of the biggest language solution provider in India. Headquartered in Bangalore, Mayflower is founded and run by Madhuri Hegde. Mayflower provides services such as software, e-learning, and multimedia localization. Mayflower also offers placement services for language resources in various industries.
Mayflower Language Services Pvt. Ltd.
Manager – Marketing & Communication