Completion of the acquisition of LUZ, Inc.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
RWS Holdings plc
Completion of the acquisition of LUZ, Inc.
Further to the announcement of 14 February 2017, RWS Holdings plc ("RWS") is pleased to announce today the completion of the acquisition of 100% of LUZ, Inc. by RWS US Holding Co Inc., a subsidiary of RWS.
Andrew Brode, Chairman of RWS, commented:
"We are delighted to have completed the acquisition of LUZ which, together with CTi, will strengthen the Enlarged Group as a leading player in the global Life Sciences translation space, with a significant presence across North America, Europe and Asia.
"Following the acquisition, Life Sciences represent over 30% of the Enlarged Group's revenues, with strong margins and further opportunities for growth. The Life Sciences sector also provides the potential for the Enlarged Group to develop and expand its other services, especially in patent translation and foreign filing.
"The acquisition of LUZ is an important element of our strategic vision to deliver high quality, full-service global language services across the value chain, and we are confident it will add significant value to our shareholders."
For further information, contact:
RWS Holdings plc
Andrew Brode, Chairman 01753 480200
MHP
Katie Hunt / Simon Hockridge 0203 128 8100
Numis
Stuart Skinner / Kevin Cruickshank (Nominated Adviser) 0207 260 1000
Michael Burke (Corporate Broker)
About RWS:
RWS is a world leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), a market leader in Life Sciences translations and linguistic validation as well as a high level specialist language service provider in other technical areas, providing for the diverse needs of a blue-chip multinational client base from Europe, North America and Asia. RWS is based in the UK, with offices in Europe, the USA, (New York, East Hartford and Chicago), China, Japan and Australia, and is listed on AIM, the London Stock Exchange regulated market (RWS.L).
For further information, please visit: www.rws.com
Information on LUZ:
Based in San Francisco with c.100 employees, LUZ is a market leading Life Sciences translation provider, specialising in medical devices and regulatory activities. LUZ services a number of the world's leading pharmaceutical and medical device manufacturers, enjoying a preferred supplier relationship with certain customers. The majority of LUZ's customers operate in highly regulated and audited industries, and they place a premium on high quality translations delivered to exacting deadlines. Services include translation, desktop publishing, client review coordination, and project management. The business' cloud-based AURORA translation management platform allows fully integrated service provision and seamless connectivity between suppliers and customers.
This information is provided by RNS
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