Appen Struck Gold; Language Services with MMG Acquisition
Language services and technology company Appen announced on October 4, 2016 the acquisition of UK-based transcription provider Mendip Media Group (MMG) for an undisclosed sum. Appen is headquartered in Sydney, listed on the Australian stockmarket ASX and has the bulk of its client base in the United States.
The MMG acquisition accelerates what has already been a remarkable growth trajectory. In 2009, private-equity firm Anacacia Capital acquired Appen and funded the acquisition of US-based Butler-Hill Group in 2011. Anacacia made an exit in early 2015 with Appen listing on Australia’s ASX stock market. The fund still owns nearly 25% of Appen’s shares post IPO through two investment vehicles.
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By Florian Faes