Globalization Services Provider, translations.com, Closes First Round of Institutional Financing

Multinational Companies and Changing Web Demographics

Fuel Push to 'Go Global'



Apr 24, 2001, 01:00 ET from translations.com, inc.

    NEW YORK, April 24 /PRNewswire Interactive News Release/ --
 translations.com, inc., a leader in the field of website globalization and
 language solutions, today announced that the company has closed its first
 round of Series A financing. Deutsche Asset Management, through its affiliate
 Deutsche Bank Sharps Pixley, Inc., led the financing round with an investment
 of $2.5 million. Other investors in the company include advertising legend Jay
 Chiat, Scient founder, Eric Greenberg, and Pennell Venture Partners, a venture
 capital fund.
     translations.com, inc. provides cultural consulting, custom application
 development and translation services for companies expanding their
 multilingual Internet capabilities for international markets and multilingual
 US markets. translations.com's customized client services range from content
 translation and cultural consulting to enterprise-wide data management
 solutions, including customized language portals, for marketing, supply chain
 management, web-based services, corporate communications and online education.
     "translations.com offers compelling enterprise language and technology
 solutions to multinational corporations," said David West Smith of Deutsche
 Asset Management. He continued, "The market for translations.com's core
 services is tremendous and we're confident that translations.com will remain a
 leader in their space for the foreseeable future."
     Phil Shawe, chief executive officer of translations.com, inc. stated,
 "This round of financing, including the investment from Deutsche Bank, comes
 at a critical stage for our company as we concentrate our resources on those
 areas of the business that contribute most to our top line revenue growth."
 Mr. Shawe continued, "Through their investment, our financial partners have
 enabled us to aggressively go after the rapidly expanding market for
 translation and globalization services."
     translations.com will use the Series A funds to expand the company's
 coordinated marketing effort, hire additional talent for its management team,
 continue development of customized technical solutions and grow the firm's
 operations domestically and internationally to better serve the company's
 growing list of Fortune 1000 clients.
 
     About translations.com, inc.
     translations.com, inc. provides full-service Internet globalization and
 enterprise language solutions to clients in virtually every major industry.
 Current translations.com clients include Enron, Royal Caribbean International,
 The Home Depot, JCrew and FleetBoston. translations.com's business services
 are focused on the strategic needs of organizations seeking to communicate and
 conduct business in international markets via the Internet and wireless
 networks. Today, translations.com, inc. has an established global presence on
 three continents and continues to pioneer new techniques and technologies for
 the rapid development of multilingual business solutions. For more information
 on the company, visit the translations.com web site at
 http://www.translations.com or e-mail the company at info@translations.com.
 
     About Deutsche Asset Management
     Deutsche Asset Management (DeAM) is one of the world's largest investment
 management organizations. Part of the Deutsche Bank Group, DeAM has
 approximately $600 billion in assets under management globally and
 approximately $250 billion under management for clients in the Americas.
 
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                http://tbutton.prnewswire.com/prn/11690X91202353
 
 

SOURCE translations.com, inc.
    NEW YORK, April 24 /PRNewswire Interactive News Release/ --
 translations.com, inc., a leader in the field of website globalization and
 language solutions, today announced that the company has closed its first
 round of Series A financing. Deutsche Asset Management, through its affiliate
 Deutsche Bank Sharps Pixley, Inc., led the financing round with an investment
 of $2.5 million. Other investors in the company include advertising legend Jay
 Chiat, Scient founder, Eric Greenberg, and Pennell Venture Partners, a venture
 capital fund.
     translations.com, inc. provides cultural consulting, custom application
 development and translation services for companies expanding their
 multilingual Internet capabilities for international markets and multilingual
 US markets. translations.com's customized client services range from content
 translation and cultural consulting to enterprise-wide data management
 solutions, including customized language portals, for marketing, supply chain
 management, web-based services, corporate communications and online education.
     "translations.com offers compelling enterprise language and technology
 solutions to multinational corporations," said David West Smith of Deutsche
 Asset Management. He continued, "The market for translations.com's core
 services is tremendous and we're confident that translations.com will remain a
 leader in their space for the foreseeable future."
     Phil Shawe, chief executive officer of translations.com, inc. stated,
 "This round of financing, including the investment from Deutsche Bank, comes
 at a critical stage for our company as we concentrate our resources on those
 areas of the business that contribute most to our top line revenue growth."
 Mr. Shawe continued, "Through their investment, our financial partners have
 enabled us to aggressively go after the rapidly expanding market for
 translation and globalization services."
     translations.com will use the Series A funds to expand the company's
 coordinated marketing effort, hire additional talent for its management team,
 continue development of customized technical solutions and grow the firm's
 operations domestically and internationally to better serve the company's
 growing list of Fortune 1000 clients.
 
     About translations.com, inc.
     translations.com, inc. provides full-service Internet globalization and
 enterprise language solutions to clients in virtually every major industry.
 Current translations.com clients include Enron, Royal Caribbean International,
 The Home Depot, JCrew and FleetBoston. translations.com's business services
 are focused on the strategic needs of organizations seeking to communicate and
 conduct business in international markets via the Internet and wireless
 networks. Today, translations.com, inc. has an established global presence on
 three continents and continues to pioneer new techniques and technologies for
 the rapid development of multilingual business solutions. For more information
 on the company, visit the translations.com web site at
 http://www.translations.com or e-mail the company at info@translations.com.
 
     About Deutsche Asset Management
     Deutsche Asset Management (DeAM) is one of the world's largest investment
 management organizations. Part of the Deutsche Bank Group, DeAM has
 approximately $600 billion in assets under management globally and
 approximately $250 billion under management for clients in the Americas.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X91202353
 
 SOURCE  translations.com, inc.