RWS has agreed to acquire the French global provider of language and content services, Acolad, for £22.4m.

The Paris-headquartered firm operates across 22 countries in Europe and North America, with 75% of its revenue derived from localisation and related services, with interpreting, transcription and other services accounting for the remaining 25%.

In the year to 31 December, Acolad recorded revenues of £182m and earnings of £13m.

RWS said the acquisition will broaden its strategic client relationships across Europe, and extend the reach of its AI platforms.

Furthermore, it expects to strengthen its leadership in regulated industries, while also creating cross-sell opportunity across the expanded group.

Following the acquisition, shares in RWS increased by over 14%.

CEO at RWS, Benjamin Faes, said the deal is a “compelling acquisition” that enhances its growth strategy as it deploys its AI content solutions.

He stated: "Acolad is a strong fit for our existing value creation model. We are already applying AI at scale to expert-led services across our own operations. The combination also gives us greater scale to invest in new products for our clients.

"We already know Acolad well and its established presence and reputation in regulated markets, including medical devices, complements our life sciences franchise and broadens our exposure to attractive, resilient sectors. The Transaction also brings interpreting capability. I look forward to welcoming Acolad's talented team to RWS and to a smooth and effective integration."

Acolad CEO, Bertrand Gstalder, concluded: "I am delighted that Acolad and RWS are joining forces. Over the past decade we have built a European leader in content and language solutions with a simple ambition: to help the world's most demanding organisations grow across markets by combining cutting-edge technology with deep human expertise. We have long admired RWS and becoming part of the Group is the natural next step in that journey.

"Together we can bring our clients the best possible technology in content transformation, and, just as importantly, the confidence to deploy AI-powered content safely, responsibly and at scale across the world. RWS is leading the way in the industry with their Cultural Intelligence Layer and technology portfolio and combining this with Acolad's people, platforms and expertise will enable us to serve clients with greater ambition than ever before.

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