17th Jan 2019 08:56
LONDON (Alliance News) - Translation services firm RWS Holdings PLC said Thursday it acquired legal and financial translations company Alpha Translations Canada Inc for USD6.0 million in cash.
Alpha - an Alberta, Canada-based firm - primarily provides translations to multinational law firms and businesses with a client base primarily centred on Germany. Amongst its clients are "many" of the world's top 100 law firms and Fortune 500 companies, RWS added.
For the year ended July, Alpha generated USD900,000 in adjusted earnings before interest, taxes, depreciation and amortisation from revenue of USD4.4 million.
For comparison, RWS generated adjusted pretax profit of GBP61.8 million on revenue of GBP306.0 million.
"The acquisition of Alpha Translations is a natural fit to strengthen our existing specialist legal and financial translation services, while providing a strong roster of clients in Germany, a key area of focus for our Language Solutions business," RWS Chairman Andrew Brode said.
"We see a number of opportunities for Alpha Translations to benefit from RWS's scale and global presence, particularly the prospect of developing sales opportunities across the group's full suite of services and technology platforms to new and existing clients", Brode added.
Shares in RWS were 0.1% lower at 455.00 pence on Thursday.
Related Shares:
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