Teleperformance to Acquire LanguageLine Solutions LLC

Agreement by Teleperformance to Acquire LanguageLine Solutions LLC – Teleperformance will boost its presence in high-end business process outsourcing services in the US, Canada and the UK

Teleperformance, the worldwide leader in outsourced omnichannel customer experience management, today announced that it has entered into a definitive merger agreement to acquire LanguageLine Solutions LLC from ABRY Partners and minority equity owners.

LanguageLine Solutions is the US market leader in over-the-phone and video interpretation solutions to a wide range of organizations in the healthcare, insurance, financial services, communications and government sectors. Founded in 1982 and headquartered in Monterey, California, LanguageLine Solutions had revenue of US$388 million and adjusted EBITDA of US$147 million in 2015.

teleperformance.image_.2014-300x291Daniel Julien, Executive Chairman of Teleperformance, and Paulo César Vasques, Teleperformance Chief Executive Officer, commented:

“LanguageLine Solutions delivers mission critical services to a large array of clients in verticals that we already service in customer service and technical support. It is a superb organization that supports 25,000 clients across the US, Canada and the UK in more than 240 languages with a sophisticated growing network of approximately 8,000 interpreters.

This acquisition will reinforce and boost Teleperformance’s global leadership as a provider of high end value-added services, and will positively impact Teleperformance’s profitability profile. We intend, together with LanguageLine Solutions’ seasoned leadership team, to gradually expand these lines of service across Teleperformance’s geographic footprint.”

“When completed, the deal will create immediate value for Teleperformance shareholders as it is expected to be accretive to earnings per share by around 10% on a pro forma basis for 2016”.

Peggy Koenig, Managing Partner and Co-CEO at ABRY Partners, said:

“LanguageLine has been a long-held and important investment for ABRY. Management has grown revenue, diversified the product lines and increased profitability meaningfully over the course of our investment, and we are thrilled that the Company has found a perfect home within Teleperformance. We wish the management team and Teleperformance continued success going forward.”

Scott W. Klein, LanguageLine Solutions Chief Executive Officer added,

“I would like to heartily thank ABRY Partners for having been such great shareholders, supporting LanguageLine’s mission of enabling communications in order to empower relationships as well as our aggressive growth strategy. We know that Teleperformance, with its global culture and footprint, is the perfect partner to help us write a great new chapter in the history of the language access solutions industry.

The LanguageLine leadership team is excited to join the Teleperformance group in order to expand the reach of our business and to help us to continue to provide total and complete client satisfaction”.

The consideration for the transaction will be US$1,522 million at closing. The acquisition will be fully financed through a debt financing provided by Crédit Agricole, HSBC and Société Générale. Paul Hastings LLP and Linklaters LLP acted as legal advisors to Teleperformance in conjunction respectively with the acquisition and the financing.

Credit Suisse and Morgan Stanley acted as financial advisors to LanguageLine Solutions on the transaction and Kirkland & Ellis LLP acted as legal advisor.

The transaction is expected to close before year end, subject to receipt of certain regulatory approvals and other customary closing conditions.

teleperformance.image_.2014-300x291Additional Information

For additional information on Teleperformance visit their Website

For additional information on LanguageLine visit their Website

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