11th Jun 2007 07:00
RWS Holdings PLC11 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 servicesprovider, is pleased to announce the acquisition of the entire issued sharecapital of Japanese Language Services Limited ("JLS") for a cash considerationof £1.05 million, on a cash-free, debt-free basis. JLS, based in North London, is a long established provider of high leveltechnical translations from Japanese to English. It specialises in biochemical,chemical, medical and pharmaceutical documents. Its clients comprise Europeanand Japanese multinationals and European governmental organisations. The JLS operations will be relocated to the RWS Medical Translation Divisionbased in Wimbledon. JLS's unaudited financial statements for the year ended 30April 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 ofgrowth by organic investment and selective acquisitions that will only bepursued if they have demonstrable growth prospects and enhance shareholdervalue. JLS will enhance RWS's non patent translation activities and provide anopportunity for considerable growth with the advantage of both RWS's marketingresources 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 anexcellent fit. We expect to build the business rapidly. "This acquisition will be immediately earnings enhancing and will furtherunderline RWS's position as Europe's leading translation provider." - ends - For further information contact: RWS Holdings plcLiz Lucas, CEO - Translations 01753 480200 SmithfieldReg Hoare/Miranda Good 020 7360 4900 Numis SecuritiesJames 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 basedin the UK with offices in Europe, New York, Tokyo and Beijing and is listed onAIM, the London Stock Exchange regulated market (RWS.L) 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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