JERUSALEM Jan 5 Israeli private equity group
Fortissimo Capital has acquired one-third of One Hour
Translation, a provider of online professional translation of
documents, for an investment of $10 million.
One Hour Translation said on Sunday it plans to use the
proceeds to double its staff and hire developers, salespeople,
and customer service and support people. It currently has 50
"We've grown organically until now, without investments, to
become within two years the largest online translation service,"
said Ofer Shoshan, chief executive of One Hour Translation.
"Fortissimo's investment will allow us to grow much more rapidly
and become the largest professional translation service in the
The Israel-based company, which has more than 15,000
translators in 100 countries, already serves half the Fortune
In August, it said it expected to double its sales annually
as businesses increasingly turn to its service.
(Reporting by Steven Scheer)