Straker Translations announced it has extended its strategic translations services agreement with International Business Machines Corporation (IBM) by three years. The new agreement ensures Straker will continue to accrue the significant, multi-million-dollar revenue from its existing contract with IBM and allow for growth. As noted in the fiscal year 2022 Annual Report, IBM contributed $14.8 million in revenue in fiscal year 2022.

The contract also underscores the strength of the relationship between the company and IBM. The contract is effective from 1 January 2023 (the end date of the prior contract) and will see Straker support all parts for IBM's business including cloud. Specifically, the contract will: Cover translations around the clock for any language combination that IBM might request - Straker has already translated into 73 language combinations over the previous two years.

Make use of, and further enhance, the direct links the duo has established between Straker Translations' proprietary Ai-Powered RAY platform and IBM's technology platforms. Provide translation capabilities in the Media segment across any language, with 23 languages already covered in the last two years for IBM Global Media Localisation.