Carlyle Group-backed Memsource, an AI-powered translation management system, completed the acquisition of Phrase, a software localization platform. Financial terms were not disclosed. “Since Carlyle’s investment in Memsource in July 2020, we have focused on growing the business organically while exploring compelling acquisition opportunities. Phrase is a leading software localization platform bootstrapped by an incredibly talented team. As leaders in their respective fields (enterprise TMS and software localization respectively), Memsource and Phrase are determined to create the next generation of translation automation for the full range of enterprise localization use cases,” David Canek, Memsource Founder and CEO.