11th Feb 2008 07:00
RWS Holdings PLC11 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 propertysupport services (patent translations and technical searches) and technicaltranslations, is pleased to announce the completion of the acquisition of theentire issued share capital of Document Service Center Technische Uebersetzungenund Software-Lokalisierung GmbH ("DSC") for a cash consideration of £6.8million, to include DSC's net cash of £1 million. The acquisition is in line with RWS's stated strategy to complement organicgrowth by deploying the Group's cash resources for selective acquisitions whichhave demonstrable growth prospects and enhance shareholder value. DSC is a leading German provider of technical translations to a broad base ofGerman and Swiss corporates including SAP, Daimler, and Grundig. Founded in1996, it has approximately 40 employees based in Berlin and it will be fullyintegrated with RWS's existing German operations in Berlin, providing somesynergies as well as critical mass in its target markets. DSC's latest financial statements for the year ended 31 December 2007 show netassets of £1.1 million, turnover of £4.1 million and adjusted EBIT of £1.9million. 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 acquisitionstrategy, is an attractive business with good organic growth prospects whichwill be immediately earnings enhancing and will strengthen our position asEurope's leading translation provider. "We look forward to growing the business within the RWS group, consolidating ourposition in Berlin and capitalising on cross selling opportunities across abroadened client base." - ends - For further information contact: RWS Holdings plcAndrew Brode, Executive Chairman 01753 480200 SmithfieldKatie Hunt/Miranda Good 020 7360 4900 NumisStuart 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 servicesfor areas of industry outside the patent arena. RWS is based in the UK, withoffices in Europe, New York, Tokyo and Beijing, and is listed on AIM, the LondonStock Exchange regulated market (RWS.L). Approximately 1,000,000 patent documents are published per annum, 200,000 ofwhich are published in Europe (Source: European Patent Office) and theintellectual property market has shown significant growth in recent years, withpatent 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 ExchangeRelated Shares:
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