Wolfestone Managing Director Alex-Michelle Parr did not specify whether TauRho would maintain its own brand or be incorporated under the Wolfestone umbrella, and either might be possible. While RLI and City Lingual still seem to operate distinct brands, Pursuit Translations is now off the map, and a year after that acquisition, in 2022, Wolfestone launched Wolfestone Deutschland in Germany.
Parr told Slator that the company is striving to strengthen and scale its transcription services. While there was no preexisting relationship between the two businesses, she added, “we were aware of the excellent work TauRho has been doing with life science companies in the UK and USA.”
Slator 2023 Language Industry M&A and Funding Report
This 61-page report provides an in-depth analysis of mergers, acquisitions, and funding in the language services industry in 2023.
Wolfestone Group was founded in 2006 by entrepreneurs Anna Bastek and Roy Alkin. In addition to its Swansea headquarters, the LSP has offices in Washington, DC; Colombia; Germany; Romania; and the Philippines. Including TauRho, Wolfestone’s headcount is more than 60. Wolfestone reported revenues of USD 7.9m for 2022, the same year it said the company had grown organically year on year.
TauRho’s experience with legal and medical transcription has covered clinical trials, patient interviews, focus groups, and reports.
Parr noted that TauRho uses “a blend of AI– and human-powered solutions” to produce transcriptions. One benefit: AI can accelerate turnaround times, thus contributing to bringing drugs to market sooner.
TauRho has also specialized in the high-growth life sciences sector. The heavily regulated industry requires accurate language services, which influences how Wolfestone and TauRho decide to use certain tools.
Slator Translation as a Feature (TaaF) Report
The Slator Translation as a Feature (TaaF) Report is a vital and concise guide on how AI translation is becoming an integral feature in enterprise technology.
“The life sciences sector is experiencing ongoing growth and demand for language services, driven by several factors, such as increased investment into R&D and the continued globalization of clinical trials,” Parr explained. “AI-powered language solutions are in demand; however, ‘human’ translation and transcription will continue to be a requirement in certain areas.”
Looking ahead, Parr added, “we remain active with our sights set on a US acquisition to complement our growth plans in this region.”
