- Colin Riley
ITX Facilitates LocalEyes' Acquisition by STAR7
Updated: Jan 24, 2022
CLEVELAND, December 13, 2021 - LocalEyes, a leading translation and localization specialist based in Ireland, announced it has been acquired by STAR7 S.p.A., a global leader in the content and product information sector.
The transaction was facilitated by ITX, a global leader in smaller mid-market mergers and acquisitions focusing on IT Services businesses, MSSPs, MSPs, Microsoft, and Oracle channel partners. It marks the firm's 19th transaction in the past 12 months.
LocalEyes was established in 1997 to support Apple in globalizing its brand and has grown alongside the Cupertino-based tech giant (in Europe, in particular), working on technical and customer-facing content translation and localization. Over this time, it has evolved and innovated its own know-how to offer increasingly value-added services. The company now has 12 offices across Europe and one in San Francisco, employing a total of 150 people.
"We chose STAR7 because of the close match between the history and the vision of our two businesses: we both have content localization in our DNA, have seen extraordinary growth and view a tailor-made approach to business for premium customers as our mission," said Linda Spahija, Chief Executive Officer of LocalEyes. "We're looking forward to joining this big family, and we're ready for the challenge - which we're sure will lead to us achieving great things."
"The talent and leadership LocalEyes brings to STAR7 is immeasurable," commented Tim Mueller, President & co-founder of ITX. "We see this as an ideal strategic acquisition for both businesses, and look forward to seeing the combined businesses grow."
According to Carlo Cozza, Founder of LocalEyes, "ITX's global network of buyers is comprehensive and effective. They introduced LocalEyes to dozens of qualified buyers as part of their process. Equally important was the way they seamlessly worked across multiple zones between the U.S. and Italy. We are incredibly pleased by the outcome."
Founded in 1998 by technology CEOs and M&A professionals, IT ExchangeNet (ITX) was acquired by martinwolf in January of 2021. The deal creates a globally recognized provider of M&A advisory services for transactions spanning $5 to 500 million, with both companies each having more than 20 years of experience in the IT mid-market space.
IT ExchangeNet owns a network of more than 50,000 global IT decision makers. Focusing on smaller companies that are historically ignored by large investment banks and M&A advisors, ITX leverages industry knowledge and relationships to work with companies that are ready to be sold, and buyers that are ready to buy. Specific segments of the IT industry served include: Managed IT Services, MSSPs, software as a Service (SaaS), Hosting, Infrastructure as a Service (IaaS), Cyber Security, IT Services, Software Development, and Big Data.
To learn more about ITX: www.itexchangenet.com