ARCHIVE 2005

Invision sells Trados participation to SDL plc

Zug, Switzerland – June 22, 2005 – SDL plc announced yesterday the acquisition of Trados Inc., a portfolio company of Invision, for a maximum aggregate of up to USD 60 million in cash and SDL shares. Trados, with domiciles in Sunnyvale (USA) and Stuttgart, is the global market leader in globalisation software to the translator corporate enterprise market. Trados has been financed besides Invision by global leading venture capital companies such as HG Capital, Wachovia Capital Partners and Sequoia Capital.

Invision invested in Trados in 2002. Since the investment, Invision worked with the management and board of directors to grow value through providing its network, focusing the business on its key strategic priorities and supporting the management team. As a result, Trados has strengthened its market position and sales grew from USD 15.7 million in 2001 to USD 30 million in 2005.

Trados (www.trados.com) provides translation software that enables global businesses to operate more efficiently in foreign markets by automating key processes associated with the authoring, localization and publishing of enterprise information. Trados products are used in over 3’500 enterprises, and it enjoys a significant market share of the translation memory solutions market.

SDL (www.sdl.com), quoted at the London Stock Exchange, is a provider of translation services and translation software solutions. Both companies together will have combined revenues of around USD 150 million and more than 100’000 licenses and over 100 enterprise solutions in use.

Joe Campbell, President and CEO of Trados, commented the transaction as follows: “This is a wonderful opportunity for the enlarged Group to take full advantage of the growth opportunities in software, services and solutions for the global information management market.”

Klaus-Dieter Laidig, representative of Invision in the Board of Trados, said: “We are very pleased with the merger of Trados and SDL. The company will be the clear market leader in the localisation and translation industry with a strong management team, leading edge technology and a blue chip customer base.”

The transaction is conditional upon the approval of the SDL shareholders.

For further information please contact:

Martin Staub Invision AG
Phone +41 41 729 01 01
staub@invision.ch

Invision AG is a leading Swiss based investment company with a focus on small and mid cap enterprises. Invision concentrates on innovative and growth-oriented enterprises mainly in the technology sector. Invision acts and finances through its investment vehicles (for venture capital, private equity, listed companies) and supports its portfolio companies in their phases of development. Invision’s main investment focus is expansion and later-stage financing.