French Systran prepares to fly the Korean flag

by bold-lichterman

The Korean CSLI is preparing to acquire the shares of the founders and managers of Systran: Dimitri Sabatakakis, Guillaume Naigeon, Denis Gachot, Jean Senellart, Charles-Eric Boscals de Réals as well as those of Valfinance and SOPI. The transaction is made on a basis of 5 euros per share, and values ​​the company at 37.5 million euros. CSLI should set up a takeover bid in 2014 following this first equity investment.

Systran specializes in machine translation software. The company was created in the 60s in the United States, and had been bought by the Gachot family in 1986. Since 2000, Systran has experienced a decrease in its turnover, to 6.419 million euros in 2012. The company counts today around forty employees in France.

Systran counts among its clients numerous American security services including the NSA (National Security Agency), the CIA (Central Intelligence Agency), ODNI (Office of the Director of National Intelligence), NASIC (National Air and Space). Intelligence Center) as well as the French Ministry of Defense. These customers now represent more than 25% of the company’s turnover.

It remains to be seen how its various entities will react following this takeover.