2nd Nov 2015 08:35
LONDON (Alliance News) - Intellectual property support services company RWS Holdings PLC on Monday said it has acquired Corporate Translations Inc for USD70.0 million in cash.
Corporate Transactions is a life sciences translation and linguistic validation services provider. RWS said the deal will boost its organic growth and will give it a stronger presence in the life sciences sector.
The deal will be funded by USD25.0 million from existing cash resources and by a USD45.0 million five-year loan from Barclays.
"We are delighted to have acquired CTi, which greatly expands our exposure to the attractive and growing life sciences sector through a world leading language services provider in this field. With its focus on supporting its clients in the delivery of their intellectual property pipelines, CTi is an excellent fit with RWS' leading position in intellectual property service provision," said Andrew Brode, RWS's chairman.
Shares in RWS were up 4.7% to 180.00 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
RWS Holdings