£2.3m Acquisition of UK Specialist Translations Business

2/9/2014 12:00:01 AM
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 a unique, world-leading provider of technology-enabled language, content and intellectual property services. Through content transformation and multilingual data analysis, our combination of AI-enabled technology and human expertise helps our clients to grow by ensuring they are understood anywhere, in any language.

Our purpose is unlocking global understanding. By combining cultural understanding, client understanding and technical understanding, our services and technology assist our clients to acquire and retain customers, deliver engaging user experiences, maintain compliance and gain actionable insights into their data and content.

Over the past 20 years we’ve been evolving our own AI solutions as well as helping clients to explore, build and use multilingual AI applications. With 40+ AI-related patents and more than 100 peer-reviewed papers, we have the experience and expertise to support clients on their AI journey.

We work with over 80% of the world’s top 100 brands, more than three-quarters of Fortune’s 20 ‘Most Admired Companies’ and almost all of the top pharmaceutical companies, investment banks, law firms and patent filers. Our client base spans Europe, Asia Pacific, Africa and North and South America. Our 65+ global locations across five continents service clients in the automotive, chemical, financial, legal, medical, pharmaceutical, technology and telecommunications sectors.

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.

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