RWS Holdings PLC
11 February 2008
For immediate release 11 February 2008
RWS Holdings plc
£6.8m Acquisition of German Technical Translations Provider
RWS Holdings plc ('RWS'), Europe's leading provider of intellectual property
support services (patent translations and technical searches) and technical
translations, is pleased to announce the completion of the acquisition of the
entire issued share capital of Document Service Center Technische Uebersetzungen
und Software-Lokalisierung GmbH ('DSC') for a cash consideration of £6.8
million, to include DSC's net cash of £1 million.
The acquisition is in line with RWS's stated strategy to complement organic
growth by deploying the Group's cash resources for selective acquisitions which
have demonstrable growth prospects and enhance shareholder value.
DSC is a leading German provider of technical translations to a broad base of
German and Swiss corporates including SAP, Daimler, and Grundig. Founded in
1996, it has approximately 40 employees based in Berlin and it will be fully
integrated with RWS's existing German operations in Berlin, providing some
synergies as well as critical mass in its target markets.
DSC's latest financial statements for the year ended 31 December 2007 show net
assets of £1.1 million, turnover of £4.1 million and adjusted EBIT of £1.9
million. The acquisition will be immediately earnings enhancing.
Andrew Brode, Executive Chairman of RWS commented:
'We are pleased to have acquired DSC which, in line with our acquisition
strategy, is an attractive business with good organic growth prospects which
will be immediately earnings enhancing and will strengthen our position as
Europe's leading translation provider.
'We look forward to growing the business within the RWS group, consolidating our
position in Berlin and capitalising on cross selling opportunities across a
broadened client base.'
- ends -
For further information contact:
RWS Holdings plc
Andrew Brode, Executive Chairman 01753 480200
Smithfield
Katie Hunt/Miranda Good 020 7360 4900
Numis
Stuart Skinner/James Serjeant 020 7260 1000
About RWS:
RWS is Europe's leading provider of intellectual property support services
(patent translations and technical searches) to the medical, pharmaceutical,
chemical, aerospace, defence, automotive, electronics and telecoms industries.
RWS also provides specialist technical, legal and financial translation services
for areas of industry outside the patent arena. RWS is based in the UK, with
offices in Europe, New York, Tokyo and Beijing, and is listed on AIM, the London
Stock Exchange regulated market (RWS.L).
Approximately 1,000,000 patent documents are published per annum, 200,000 of
which are published in Europe (Source: European Patent Office) and the
intellectual property market has shown significant growth in recent years, with
patent applications in Europe having doubled over the last ten years.
For further information please visit: www.rws.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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