News

£2.3m Acquisition of UK Specialist Translations Business

UK

02/09/2014

The acquisition is in line with RWS' stated strategy of complementing organic growth with the deployment of the Group's cash resources for selective acquisitions which have demonstrable growth prospects, offer excellent margins and can enhance shareholder value. PharmaQuest specialises in providing high quality translation and linguistic validation of patient reported outcome measures resulting from clinical trials conducted globally. The company is believed to be the only company worldwide specialising in this field. The company was founded in 2005 and is based in Oxfordshire, employing seven people. Customers include pharmaceutical companies, clinical research organisations and academia. PharmaQuest's latest financial statements for the year ended 31 March 2013 show turnover of £1.4 million and adjusted profit before tax of £600,000. Net assets acquired were less than £100,000. The acquisition will be immediately earnings enhancing. Andrew Brode, Executive Chairman of RWS commented: "We are pleased to have acquired PharmaQuest, whose progress we have monitored for several years. It is an attractive business with excellent margins and good growth prospects in a rapidly expanding, specialist sector. It will immediately enhance RWS Group earnings and further strengthen our position as a leading provider of commercial and medical translations. “We look forward to growing PharmaQuest, with the benefit of the Group's infrastructure and marketing resources, and to broadening our market share in the medical and pharmaceutical industries."
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About RWS

RWS Holdings plc is the world’s leading provider of technology-enabled language, content management and intellectual property services. We help our customers to connect with and bring new ideas to people globally by communicating business critical content at scale and enabling the protection and realization of their innovations. 


Our vision is to help organizations interact effectively with people anywhere in the world by solving their language, content and market access challenges through our collective global intelligence, deep expertise and smart technology. 


Customers include 90 of the globe’s top 100 brands, the top 10 pharmaceutical companies and 18 of the top 20 patent filers worldwide. Our client base spans Europe, Asia Pacific, and North and South America across the technology, pharmaceutical, medical, legal, chemical, automotive, government and telecommunications sectors, which we serve from offices across five continents. 


Founded in 1958, RWS is headquartered in the UK and publicly listed on AIM, the London Stock Exchange regulated market (RWS.L). 


For further information, please visit: www.rws.com.