Munich – Software localisation platform Phrase has been acquired by Memsource, an artificial intelligence-based translation management system provider. The transaction sees the three founders of Phrase, Wolfram Grätz, Frederik Vollert and Tobias Schwab, becoming shareholders in the new Memsource group. Memsource’s majority shareholder is NASDAQ-listed The Carlyle Group. Details of the transaction were not disclosed.
A CMS team including Dr Oliver Thurn (Corporate/M&A), Jörg Schrade (Tax) and Dr Jacob Siebert (Private Equity) advised Phrase and its three founders on all legal and tax aspects of the transaction.
Headquartered in Hamburg, Phrase is a cloud-based software localisation platform (https://phrase.com/). Phrase enables customers to scale and centralise their translation processes through advanced automation and a broad variety of integrations. The company has been growing steadily since it was formed in 2012 and currently partners with more than a thousand businesses in over 60 countries.
Prague-based Memsource helps global companies translate efficiently. Memsource’s translation management system supports more than 500 languages, over 50 file types and more than 30 machine translation engines. The company achieves this via its patented, state-of-the-art AI technology. With a team of over 120 people in offices across Europe, the US and Japan, Memsource serves global customers including leading brands such as Uber, Zendesk, Supercell and Vistaprint.
Dr Oliver Thurn, Partner
Dr Jacob Siebert, Partner
Anna-Lena Löcherbach, Counsel
Karen Eldred, all Corporate/M&A
Jörg Schrade, Partner, Tax
Howard Gill, Partner, Corporate
Kristin Shelley, Associate, Tax
CMS Czech Republic
Helen Rodwell, Partner, Corporate/Private Equity