RWS Holdings acquires remaining 66% stake in inovia Holdings
Sep 20, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
RWS Holdings plc, a UK-based provider of intellectual property support services, has acquired the remaining 66% stake in inovia Holdings Pty., Limited, a US-based provider of web-based international patent filing solutions, for $23.3 million.
For financial year ended June 30, 2013, inovia generated revenues of $26.5 million.
MHP Communications acted as PR advisor, while Numis Securities Limited acted as financial advisor and Ashurst Australia acted as legal advisor to RWS.
Deal Value (US$ Million) 23.3
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Completed: 2013-09-17
Target (Company) inovia Holdings Pty., Limited
Acquirer (Company) RWS Holdings plc
The acquisition is in line with RWS's stated strategy to complement organic growth by deploying its cash resources for selective acquisitions.
% Acquisition 66%
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