XTM and XTRF to cooperate but remain separate entities
K1 Investment Management has made majority investments in both businesses but does not plan to merge the products or companies
On September 22, 2021, XTRF announced a majority investment from K1 Investment Management. This sees XTRF join fellow translation management software company XTM International in the K1 family. The two companies will continue to operate as separate entities and maintain separate products, while cooperating closely.
“The fact that XTM and XTRF are sister companies creates a lot of potential and benefits,” says Andrzej Nedoma, former CEO at XTRF, and now on the advisory board. “Of course, we run as independent businesses. It’s like living under the same roof because K1 is our partner, but XTM has always focused much more on corporate clients. To operate in that market, you really need your own CAT tool.”
While there are no plans to merge the two products, integration between the systems will be enhanced. Both XTM and XTRF remain focused on executing their respective growth plans. All existing partnerships and integrations with other technology companies will continue to be supported and developed according to market and client needs.
For more information on how the investment will affect current clients, please read this article.
About XTRF: Established in 2010, XTRF is a leading provider of translation management software for the language services market. Their software enables clients to integrate their entire localization process in one globally accessible, cloud-based platform. As one of the fastest-growing translation management systems on the market, XTRF works with over 350 translation companies, corporate language departments, and public organizations across the globe.
About K1: K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. Since its inception, K1 has partnered with over 160 enterprise software companies.
About XTM International: Formed in 2002, XTM International helps global enterprises localize large volumes of content using its innovative cloud-based enterprise translation management system and integrated CAT tool. They partner with clients as ambitious and diverse as Sony Interactive Entertainment, Volvo, Ricoh, and Gap, helping them localize some 14 billion words a year