Appen announcse strategic UK acquisition

Company News

by David Chau

Appen Ltd (ASX:APX), which is a global language tech solutions provider, has acquired the Mendip Media Group.

Appen says MMG is a leading provider of secure transcription services in the UK. MMG has provided transcription services at a range of security levels to government departments, the UK Crown, County Courts and corporate clients for over 20 years.

Appen also says MMG has expanded its client base through contracts with the UN and Ministry of Justice.

The purpose of this acquisition was for Appen to enhance its provision of language services to government clients – which it says is a market with high entry barriers and strong margins.

Appen reported a net profit of $5.4 million at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.