Riverside Partners, a Boston-based private equity firm, has invested USD34m into Welocalize, which specialises in content translation, localisation and internationalisation of web based content.
Welocalize was founded in 1997 and is based in Frederick, Maryland.
With over 400 employees in nine offices located in the US, Ireland, Germany, China and Japan, Welocalize provides translation supply chain management that delivers market-ready, translated content.
Welocalize’s translation supply chain management solutions are driven by GlobalSight, a collaborative, open-source translation management system.
Riverside Partners’ investment will be used to support the company’s growth initiatives including investment in the company’s technology systems and potential add-on acquisitions.
"We are excited to continue to build the market leading, client-centric, localisation services provider. We believe that Riverside Partners because of its ample capital availability to facilitate additional investment in the business, its experience building other market leading firms within its portfolio, its focus on growth, and its technology expertise is the ideal partner to help us continue to grow our business," says Smith Yewell, chief executive officer and founder of Welocalize.
"We believe Welocalize is one of the most well run and best positioned players in the rapidly expanding localisation services marketplace," says David Belluck, a general partner at Riverside Partners. "Smith and his team have built one of the most compelling, flexible, and scalable platforms in the market and Riverside Partners is excited about assisting the company in its next phase of growth."
Revolution Partners, a San Francisco-based investment bank, and division of Morgan Keegan, acted as the exclusive financial adviser to Welocalize for the transaction.
