April 15 (SeeNews) - Greek translation and localisation management platform Transifex said that it was acquired by US investment firm PARC Partners for an undisclosed amount in a deal that will provide growth support from financial services companies such as Pacific Lake Partners and Bridge Bank.
The transaction will provide additional capital and new management resources as the acquired business seeks to accelerate the adoption of its localisation automation products for enterprise software and content, Transifex said in a statement on Wednesday.
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As a result of the deal, PARC founders Chris Reese and Tony Pilnik will take over as company CEO and president from founder Dimitris Glezos.
Founded in 2009, Transifex has offices in Greece and in California, US and employs 55 staff. The company has developed automation tools that enable companies to translate their software and digital content such as web and mobile apps, websites, games, help centres and other digital products, with a view to speeding up agile processes.
Transifex counts amongst its clients HubSpot, Quora, Strava and Klarna.
"As the category-leading product enabling the global ambitions of digital-native companies, Transifex is poised for rapid growth alongside its customers," incoming CEO Chris Reese said.