Amethis, through its newly launched fund, Amethis MENA Fund II (AMF2), has completed its second transaction, acquiring a minority stake in Tarjama.
Founded in 2008 by Jordanian entrepreneur Nour Al Hassan, Tarjama is a language technology & services provider in the MENA region, meeting the language and localization needs of a wide roster of corporates across the region's largest markets. The company has developed proprietary language technology products including a best-in-class Arabic-focused machine translation engine as well as Cleverso, its high-performing translation management system. With a growing presence in the MENA region, Tarjama, which is woman-led, enjoys gender parity and is a dynamic employer of youth across the region.
Amethis' investment in Tarjama will support the company in realizing its AI technology roadmap and in executing an ambitious organic and inorganic growth strategy across the region's main markets.
Nour Al Hassan, Tarjama Founder & CEO, stated: "This investment by Amethis creates an exceptional opportunity for us to build up our technological capabilities and securely position Tarjama as the leader in language AI across the region. We're eager for this next phase of growth where we'll significantly develop our current product portfolio, create new customer-focused products, and expand our presence to global markets."
Dechert LLP acted as legal advisor to Nour Al Hassan & Tarjama while Hourani & Partners acted as legal advisor to Amethis. PwC and Slator were also retained by Amethis for financial, tax, and commercial due diligence.
