22nd Sep 2020 13:30
(Alliance News) - RWS Holdings PLC on Tuesday said it has received GBP11.7 million following a claim under the terms of the warranty insurance which was taken out as part of its USD320.0 million acquisition of Moravia US Holdings Co Inc and Moravia Lux Holding Co Sarl in 2017.
The patent translations and international patent filing solutions provider said the claim relates to information that was omitted ahead of the Moravia purchase.
RWS noted that while the information would not have altered the decision to acquire Moravia, it did have cause to claim under the warranty insurance and was pleased to have received the settlement.
Shares in RWS were trading 1.2% lower at 583.00 pence each on Tuesday afternoon in London.
By Ife Taiwo; [email protected]
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