July 3, 2020
The Carlyle Group has acquired a majority stake in Memsource, a language translation software provider.
Founded in 2010 and headquartered in Prague, Czech Republic, Memsource is a translation technology provider that assists global corporations and the language services industry to automate the localisation of large volumes of multilingual content. Memsource has a growing customer base of enterprises, localisation partners, freelance linguists, as well as leading universities.
David Canek, Founder and CEO of Memsource, said: “We are excited to partner with Carlyle. At Memsource, we have always been committed to helping our clients optimize their localisation. With Carlyle’s support, we will significantly accelerate the pace at which we bring innovative solutions to our customers. By building on our patented AI technology, we will strive to lead the transformation of enterprise localisation together with Carlyle.”
Fernando Chueca, Managing Director, The Carlyle Group adds: “We are delighted to partner with David and his team to support the development of Memsource. In its relatively short history, Memsource has emerged as a leading technology provider to the global localisation market, with a unique proposition to enable the adoption of machine translation and automation across the industry.”