The acquisition is in line with the strategy of complementing organic growth with selective acquisition.
CTi is based in Connecticut, USA and was founded in 1990 to cater for the growing demand for high quality translation services in the life sciences sector. It is now a recognised leader in successfully managing complex translation projects on behalf of the world’s top pharmaceutical and biotech companies and their Clinical Research Organisation (CRO) partners. As CTi’s customers operate in highly regulated and audited industries, they place a premium on high quality translations being delivered to specific deadlines. CTi enjoys a preferred supplier relationship with many of its key customers, with extraordinary penetration of the blue chip life science community.
RWS already focuses on the life sciences sector, both through its patent translation and filing solutions, and with its separate Medical Translation Division which includes the linguistic validation specialist PharmaQuest.
The scale of CTi, combined with the existing specialist RWS divisions will immediately transform the Group to a world leading position in life sciences translations and linguistic validation and further enhance its competitive standing amongst the largest specialist translation companies in the world, especially in IP support services.
Andrew Brode, Chairman of RWS Holdings, commented:
“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.
“We look forward to building on CTi’s strong reputation and financial track record, particularly as RWS adds its own life science division and client base, and provides a platform from which it can achieve further expansion into the European life science support services sector.
“CTi also provides RWS with an outstanding platform upon which to deliver its strategic vision for the development of language services provision in the USA and we are confident the acquisition will add significant value to our shareholders.”