Language and translation specialist RWS Holdings (AIM:RWS) has agreed to buy brand and intellectual property management specialist Obviously for up to £40 million.
An agreement in principle has been reached and the transaction is not yet binding, with the parties in exclusive discussions to finalise terms. RWS said there can be no certainty that a deal will be completed.
London-based Obviously's platform uses AI to help companies manage intellectual property, detect infringements and assess their commercial impact. The company generated revenue of around £2.5 million and a loss of £1.5 million in the year to February 2026.
AIM-listed RWS said the deal would include an initial £16.5 million cash payment and up to £23.5 million in earn-outs tied to performance through to the 2029 financial year.
RWS said the acquisition would increase its total addressable market by about £2 billion and strengthen its proposition as a unified 'global brand guardianship' platform for large enterprise clients.
If completed, Obviously will be integrated into RWS’s Protect division, with its existing management team remaining in place.
RWS CEO Benjamin Faes said: "The acquisition of Obviously will be a significant step forward in accelerating our growth by pivoting to be a technology-first business with holistic solutions for enterprise clients."