LONDON, UK: RWS Holdings plc, a leading provider of language, content and intellectual property services, has announced that it has bought Propylon Holdings Ltd, a company that offers a content management system for legal and legislative content, for €30.1 million ($33.1 million) in cash.

The deal also includes deferred payments of €6.45 million ($7.1 million) over two years, subject to the retention of Propylon’s management team.

Propylon’s content management system is used by governments, standards bodies, legal publishers and regulated firms to draft, manage, publish and update legal and legislative content. Its solution allows users to author content in Microsoft Word and publish it in various formats. Its clients include several US State legislatures and national parliaments, as well as standards bodies and professional services firms.

The acquisition is part of RWS’s strategy to serve the regulated and legal markets and to innovate in structured content management. RWS said that Propylon’s clients will benefit from its integrated localization capabilities and that it will combine offerings, expand geographical reach and bring new propositions to its global client base.

Propylon, which is headquartered in Dublin, Ireland, will continue to be led by its CEO, John Harrington, who will further grow the company’s revenue and cash generation from its growing list of clients with multi-year contracts. Propylon reported revenue of $12.7m in 2022, a 13.4% increase from 2021, and is expected to deliver revenue growth of about 30% in 2023 with an EBITDA margin of close to 25%. The company has about 100 employees in Ireland and the US.

RWS’s CEO, Ian El-Mokadem, said that Propylon is a pioneer in its industry and has helped its clients to manage their legal and legislative content. He said that the acquisition supports RWS’s growth strategy and signals its intention to remain at the forefront of the structured content market.

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