MultiLing Achieves Record Quarter with 37 Percent Growth; Frontier Capital’s Michael Ramich Praises Dramatic Results Less Than Two Years After Growth Equity Investment
Frontier Capital portfolio company MultiLing, the innovative leader in intellectual property (IP) translations and related support services for foreign patent filings, announced record quarterly growth for the first quarter of 2015, with a 37 percent increase in revenue over the same period last year. The company attributes this growth to ongoing enhancements in people, processes and technologies, all required to meet the increasing demand for patent translations both to and from U.S., European and Asian languages.
Frontier Capital, a growth equity firm that invested $10.3 million in MultiLing in August 2013, praised the growth as an example of what is possible when an established company receives resources and mentoring to achieve a new level of success.
“While MultiLing has long been a successful company, the infusion of capital and talent supported by a growth equity investment has placed the company in an entirely different class,” said Michael Ramich, partner at Frontier Capital, and member of MultiLing’s board of directors. “We have witnessed dramatic results in less than two years, with 2014 showing a 33 percent increase in revenue over 2013, and now this record quarter with a 37 percent increase. We look forward to even stronger growth in the months and years ahead as MultiLing – and its clients – continue to reap the benefits of the resources we provide.”
According to Michael Sneddon, president and CEO at MultiLing, “This quarter was especially strong for MultiLing, with both long-term clients and new global enterprises requesting translations of numerous large patents into multiple languages. MultiLing clients continue to realize the value of our specialized IP translation services that result in faster time to grant reduced risk of invalidation and a lower overall cost of patent ownership. Predictably, as our reputation as a trusted partner grows, so does our client roster.”
Speaking of Growth: MultiLing Advises Early Translations to Meet September PCT Filing Surge
With the Leahy-Smith America Invents Act (AIA) of March 16, 2013 moving the United States from a first-to-invent to first-to-file system, inventors rushed to file patents before the law changed, and ahead of their competition. The international effects of this surge will be felt in September and October, when the Patent Cooperation Treaty (PCT) 30-month priority applications are due. Estimates show a 65 percent increase over the same period last year.
“The number of PCT applications due this September amounts to an enormous number of applications needing translation into one or more languages before the deadline,” Sneddon added. “To ensure quality translations and filings are completed on time, we’re working closely with our clients now to help them move through their patent translation projects as early – and quickly – as possible. We suggest any other companies anxious about the impending deadline proactively begin their translation projects now as well.”
Founded in 1988, MultiLing is the innovative leader in IP translation and related support services for foreign patent filings by Global 500 legal teams. The company defined and continues to drive best practices for foreign patent filings, which include in-country native linguists, scientists, engineers and legal specialists who interact through processes and technologies that increase quality, consistency and on-time delivery. Clients include Procter & Gamble, Yokohama Rubber and Dow Corning. For more information, visit http://www.multiling.com.
For the original release, visit http://www.multiling.com/press-releases/multiling-achieves-record-quarter-with-37-percent-growth-in-ip-translations