Yes, and his daughter Dorothea. They were in fact a team of four: August Schlegel, Ludwig Tieck, Dorothea Tieck and the Count of Baudissin.
And just now, when googling about it I was surprised, It seems that another Tieck, Ludwig´s sister Sophie, was also involved in the translations but wasn´t credited.
" Although the title page of the donated Shakespeare editions states that two men called Schlegel and Tieck translated Shakespeare’s works into German, it was in fact a whole group of people. This included two remarkable women called Sophie and Dorothea Tieck, who translated the Bard’s works. Both women, not unlike Marie Levin, were ahead of their time. Sophie, the younger sister of Ludwig Tieck, was involved in debates on women’s rights and concerned about social equality. In addition to translating Shakespeare, she worked as an editor, and was even a writer in her own right. Her literary output includes novels, dramas and poetry. Fortunately, the perception of Sophie has changed considerably in scholarship. Until the 1960s she was seen as a “dilettante” but the study of her correspondence has helped to re-assess her role in the literary circle and she is widely perceived as an active contributor to the Romantic Movement. Dorothea, Tieck’s eldest daughter, showed an aptitude for foreign languages from a very early age. Reading Shakespeare in the original she also studied Greek, Latin, French, Spanish and Italian. Together with the German diplomat Count Wolf Heinrich von Baudissin, she translated the more difficult and lesser-known plays by Shakespeare and her translations were considered of a high literary standard. Unfortunately the women's names didn’t appear on the title page. Scholar Alan Corkhill describes the relationship between father and daughter Tieck as “exploitative” since Tieck claimed full authorship rights to the translation."
On the German Day of Unity, Mareike Doleschal examines the custodial history of a set of German Shakespeare translations held in the Trust's library.
www.shakespeare.org.uk
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I liked this translation so much that, when I finally had access to the original, it seemed a pale version of Schlegel and Tieck!