The transaction creates one of the largest players in the translation and localization tools market. This opens the door for Memsource to further develop its product portfolio, expand into new markets and expand the number of its customers.
Based in Prague, Memsource is one of the world’s largest providers of translation solutions that help global companies and translation agencies automate the translation process. Memsource includes patented artificial intelligence solutions that make the translation process faster and less expensive, while increasing the quality of the resulting translation. The translation software provided by Memsource is also used by the largest players in the market, such as Uber, Zendesk, Supercell or Vistaprint.
Phrase, based in Hamburg, Germany, is a provider of tools for localizing software, websites and mobile applications. The merger of Memsource and Phrase will create one of the largest players in the translation and localization tools market. The transaction significantly expands Memsource’s product and customer portfolio, as well as expanding its presence in Germany.
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