Iverson Language Associates of Milwaukee said Monday it has finalized a merger with TransPerfect, the world’s largest privately-held provider of language services.

Iverson Language Associates Inc. will become a division of TransPerfect and will continue to operate in its current office on Milwaukee’s east side. All full-time employees are expected to remain with the company.

Founder Steven Iverson will join the TransPerfect senior management team, while continuing to lead Iverson Language Associates. Iverson founded the Milwaukee firm in 1986. In August, the company was named for the second time to Inc. Magazine’s 5,000 Fastest Growing Private Companies list.

Last week Iverson Language Associates promoted company veteran Hélène Pielmeier to the role of chief operating officer.

“I am very pleased that this business I founded 22 years ago is entering a new chapter and I am very optimistic about our future together,” Iverson said.

TransPerfect will provide Iverson Language Associates access to the resources of a “truly global organization,” Iverson said.

Terms of the transaction were not disclosed.

TransPerfect, which is headquartered in New York City, will record 2008 revenue exceeding $200 million and has more than 1,000 full-time employees.