May 19th, 2022 — Memsource, the industry’s highest-ranked translation management solution, has appointed Georg Ell as Chief Executive Officer and added new members to its leadership team. Ell brings more than 15 years of experience in the technology sector, having previously held senior leadership roles at Tesla, Yammer and Microsoft. He joins Memsource as the company gains international momentum, recording its best year and achieving over 40% organic Annual Recurring Revenue growth in 2021, after its acquisition of the SaaS platform Phrase, which added software localization capability to the business. This follows global investment firm Carlyle’s (NASDAQ: CG) acquisition of a majority stake in Memsource in 2020.
“Memsource’s enterprise-grade platforms are helping leading businesses accelerate their international growth while significantly reducing costs and overhead” said Georg Ell, CEO of Memsource. “Combining the strengths of Phrase and Memsource, we provide the widest range of translation and localization solutions for teams and companies of any size going global. I’m thrilled to join the team and build on its impressive momentum.”
Memsource has helped Personio, TravelPerk, OVH, and over 30 other companies accelerate their global growth. These companies now join Uber, Zendesk, Shopify, Supercell, Huawei, Vistaprint, Škoda, Bosch, Fujifilm, Volkswagen, Porsche, XING and thousands of other Memsource customers worldwide.
Memsource will continue to integrate Phrase’s technology to further develop the next generation of translation automation for the full range of enterprise localization use cases, enabling sophisticated software localization across international markets. Its technology is equipped to manage significant volumes of translation with advanced automation, machine learning, and AI features.
Memsource has also appointed Bharat Siyani as VP People who is joining the executive team and will support organizational and team scale up. Siyani has over 10 years of combined experience in HR leadership and recruitment roles in the technology sector. Siyani will work with the leadership team to implement best-practice employee engagement and strengthen diversity, while looking to identify the right talent to reach the company’s ambitious growth objectives in the coming years.
Fernando Chueca, Managing Director, and Petr Rieger, Associate Director, both in the Carlyle Europe Technology Partners advisory team, said: “We are delighted that Georg has agreed to take on the role of CEO and believe that his background and expertise are the ideal fit to take the company forward. Memsource is at the inflection point of a new scale up phase and the appointment of Georg is an important next step in that journey. His experience in managing fast-growing businesses will be invaluable as we continue to support the company’s ambitious growth plans and build on its global leadership position in localization technology.”
Memsource helps global companies translate efficiently. Ranked as the the leading translation management system on G2, Memsource supports 500+ languages, 50+ file types, and 30+ machine translation engines. Memsource enables its customers to increase translation quality while reducing costs using its patented, state-of-the-art AI technology. Serving thousands of global customers, including leading brands such as Uber, Supercell, Vistaprint, and Zendesk.
Phrase is a cloud-based software localization platform that accelerates the development of multilingual digital products. Phrase enables organizations of all sizes to scale and centralize their translation processes through advanced automation and a broad variety of integrations. Founded in 2012 in the heart of Hamburg, Phrase has grown from a small start-up into an agile, ambitious team from around the world. Phrase is growing rapidly and currently partners with over a thousand businesses in over 60 countries and became part of Memsource in 2021.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $325 billion of assets under management as of March 31, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,900 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.