RWS Holdings PLC
11 June 2007
11 June 2007
RWS Holdings plc
Acquisition
£1.05m acquisition of Japanese technical translations provider
RWS Holdings plc ('RWS'), the AIM listed intellectual property support services
provider, is pleased to announce the acquisition of the entire issued share
capital of Japanese Language Services Limited ('JLS') for a cash consideration
of £1.05 million, on a cash-free, debt-free basis.
JLS, based in North London, is a long established provider of high level
technical translations from Japanese to English. It specialises in biochemical,
chemical, medical and pharmaceutical documents. Its clients comprise European
and Japanese multinationals and European governmental organisations.
The JLS operations will be relocated to the RWS Medical Translation Division
based in Wimbledon. JLS's unaudited financial statements for the year ended 30
April 2007 show turnover of £0.5m and adjusted profits before tax of £0.2m.
The acquisition is in line with RWS's strategy to focus on a combination of
growth by organic investment and selective acquisitions that will only be
pursued if they have demonstrable growth prospects and enhance shareholder
value. JLS will enhance RWS's non patent translation activities and provide an
opportunity for considerable growth with the advantage of both RWS's marketing
resources and opportunities for cross selling.
Andrew Brode, Executive Chairman of RWS commented:
'We are pleased to have won an auction for JLS whose operations provide an
excellent fit. We expect to build the business rapidly.
'This acquisition will be immediately earnings enhancing and will further
underline RWS's position as Europe's leading translation provider.'
- ends -
For further information contact:
RWS Holdings plc
Liz Lucas, CEO - Translations 01753 480200
Smithfield
Reg Hoare/Miranda Good 020 7360 4900
Numis Securities
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 and telecoms industries. 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)
For further information please visit: www.rws.com
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The company news service from the London Stock Exchange
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