- October 05, 2020 /
- Uncategorized /
- By Ly /
- 0 Comments
TWO ESTONIAN TRANSLATION MARKET INFLUENCERS MERGE
SYNERGY FROM MERGER
On 1 October, two local translation market influencers, Translation Company NEON with a legal name Tiido and Partners Language Agency LLC and Interlex Translations merged creating yet another Estonian translation company with a turnover of over one million euros. The merged entities will continue to operate under the name Interlex.
Both Interlex and NEON have been operating in the Estonian translation services market for over 20 years. They have both been influencers in the local translation services business for many years. At this time of change, the merger of Interlex and NEON will create synergies, where cost savings and process integration will result in a stronger economic and substantive joint venture. In addition, the combination of competencies and different market segments allows to provide clients with improved workflow and quality as well as a wider range of services.
INFLUENCERS OF THE ESTONIAN TRANSLATION LANDSCAPE
As members of the Association of Estonian Translation Companies, both Interlex and NEON have been strong influencers of the Estonian translation landscape. Both companies have stood for promoting the Estonian translation business and raising client awareness concerning the specifics of translation services. Both use world-class translation technology and project management systems, which is why they also participate in the training of translators at Tallinn University and serve as a traineeship base for many starting and active translators. Several articles on the translation business have been published by the managers of both translation agencies. Read more HERE.
STRONG COMPETENCE IN LEGAL TRANSLATIONS COMPLEMENTED BY SWORN TRANSLATION SERVICE
For the translation agency Interlex, founded in 1997, legal translations have been one of the company’s main areas of activity since its establishment. In addition, translations of automotive and other technical documentation are provided. With the merger of Interlex and NEON, the competence of legal translators of the joint venture, which continues to operate under the name Interlex, will further increase. Translating legal and administrative documentation has also been one of NEON’s core competencies through the years. Since 2007, translations have been provided to the European Commission and then to the Court of Justice. In addition, numerous local law offices, banks, insurance companies, and other private companies have been served. During the twenty years of operation, numerous procurement contracts for translation services of Estonian state agencies have been serviced, including for the Estonian Ministry of Justice, the Estonian Ministry of the Environment, Enterprise Estonia, the Estonian Road Administration, the Estonian Health Insurance Fund, the Estonian Ministry of Social Affairs, the Estonian Unemployment Insurance Fund, and many others. When NEON merges with Interlex, the latter will also acquire a completely new type of service – sworn translations.
DENTAL TRANLATIONS – A NICHE PRODUCT OF MEDICAL TRANSLATIONS
In addition to legal translations, the medical translation competence portfolio of the renewed Interlex will be supplemented in the form of dental translations. In 2019, Interlex OÜ acquired the translation agency Grata, which specialises in medical translations. Today, a niche product – dental translations – is added to the volume of medical translations thanks to the merger with NEON. Dentistry is one of the most complex areas of translation, as non-harmonised terminology and a specific technical language serve as major challenges for translators. Over the last 3–4 years, NEON has invested a lot of resources in finding and training dental translators, and in mapping clients and informing them about the availability of high-quality specialist translation in dentistry. Now both the existing and new clients will be offered even more systematic work with terminology and closer cooperation with specialist translators and consultants in order to harmonise and improve quality.
BANKING TRANSLATIONS – SPECIAL EXPERTISE
Banking translations fall into the same category as legal translations. Both Interlex and NEON are experienced contributors in this field. Over the years, the clients of Interlex have included various banks as well as the Estonian Financial Supervision Authority and Eesti Pank, and NEON has been a contractual translation partner of the European Central Bank and it has also translated for various local banks and the Estonian Ministry of Finance. Upon joining the clientele, the sharing of competencies is expected to be the most beneficial.
Similarly to dental translations, the banking and financial topics are very complex and, above all, multifaceted. Common accounting knowledge, which is also possessed by a more-than-average intelligent and broad-minded professional translator, remains insufficient. NEON has made great efforts to create a team of people with a financial and banking background who can understand and translate texts related to investment funds and stock markets into a fluent target language.
RELIABLE AND COMMITTED TRANSLATION PARTNER
As mentioned above, thanks to the synergies arising from the experience and market position of the two companies, the team of the merged companies is larger, more efficient, and even more competent. The range of services and language pairs to be translated is expanding. Interlex will continue to provide services to all current clients of the Translation company NEON | Tiido and Partners Language Agency and serves as a reliable partner of NEON’s clients in all translation matters.
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MORE ABOUT INTERLEX
Interlex was founded in 1997, focusing particularly on legal translations. The company’s main clients were the largest law offices in Estonia – Sorainen, Cobalt (former Luiga Mody Hääl Borenius), and Ellex Raidla. In 2004, when Estonia joined the European Union, the company received a lot of translation work from both the European Parliament and the European Commission, providing strong international experience.
Since 2004, Interlex has been a member of the international consortium of translation agencies EULOGIA. It is worth noting that only one translation agency from each country can become its member. In the same year, medical translations, automotive translations, and technical translations were also offered in the international market.
In 2018, a media translation department was established in the company, which is mainly engaged in the translation and coding of subtitles, as well as the dubbing of movies and television programs.
In 2019, Interlex merged with the translation agency Grata and thereby vigorously increased its medical competencies.
According to the 2019 market review, Interlex is one of the five largest Estonian translation agencies.
Read the Slator announcement about the merger HERE.
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THANK YOU AND LOOKING FORWARD TO FUTURE COOPERATION!
Translation company NEON | Tiido and Partners Language Agency would like to thank all its current clients and partners and wishes a pleasant continuation of cooperation already with Interlex.
From now on, please send your translation orders and inquiries to email@example.com. As part of the renewed Interlex, the NEON’s clients may contact our current responsible project manager SAARA KÕUHKNA.
Translation Company NEON | Tiido and Partners Language Agency LLC