The Collaborative International Dictionary of English v.0.48:

Localize \Lo"cal*ize\, v. t. [imp. & p. p. Localized; p. pr. &
   vb. n. Localizing.] [Cf. F. localiser. See Local.]
   To make local; to fix in, or assign to, a definite place.
   --H. Spencer. --Wordsworth.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

localized \localized\ adj.
   1. (Medicine) confined or restricted to a particular
      location; as, the localized infection formed a definite
      abscess. Contrasted with disseminated or systemic.
      [WordNet 1.5]

   2. made local or oriented locally; as, a decentralized and
      localized political authority.
      [WordNet 1.5]

WordNet (r) 3.0 (2006):

localized
    adj 1: confined or restricted to a particular location; "the
           localized infection formed a definite abscess" [syn:
           localized, localised]
    2: made local or oriented locally; "a decentralized and
       localized political authority" [syn: localized,
       localised]