TransPerfect Acquires Remote Simultaneous Interpretation Platform TheSpeech

TransPerfect, which once again ranked as the largest language service provider (LSP) in Slator’s 2024 Language Service Provider Index (LSPI), shared with Slator in March 2024 that it had completed its acquisition of Hungary’s TheSpeech. 

TheSpeech offers a remote interpretation platform for live, online, and hybrid events in over 150 languages. It also offers closed captions for the deaf and hard of hearing and can be integrated with multiple systems. 

TransPerfect had been working on events around the world with TheSpeech for five years, explained Phil Shawe, Co-CEO of TransPerfect. He added that the company found TheSpeech platform to be “the most user-friendly technology in the space, with the most responsive service—both of which made this merger a natural fit.” 

As to the strategic reason behind the acquisition, Shawe said that “Conferences and events are undergoing a renaissance, and we’re bullish on this space. We’ve seen strong demand for solutions such as TheSpeech that offer greater accessibility and a heightened audience experience in all languages.”

Peter Cselenyi, CEO and Co-Founder of TheSpeech in 2015, will join TransPerfect as Director of Event Services Technology. He will be working closely with the management team on strategy, technology roadmap, business development, and delivery. TheSpeech’s team will also gain access to the LSP’s global R&D resources.

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TheSpeech’s systems will become what Shawe called a “key component” of TransPerfect’s GlobalLink Live solution and “the cornerstone of conference and event tech solutions, which include an automated scheduling platform as well as some leading-edge AI-based innovations.”

The companies signed an agreement in October 2023 and received approval for the acquisition by the Hungarian government in January 2024.