PHOENIX, Ariz.--(BUSINESS WIRE)--VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX and Nasdaq: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced that it has entered into a definitive purchase agreement to acquire the assets of Auscript Australasia Pty Ltd (“Auscript”), the leading supplier of secure recording and transcription services for courts and law firms throughout Australia. All amounts in this news release are expressed in U.S. dollars unless otherwise stated.
Highlights:
- VIQ will acquire Auscript for a total purchase price of approximately $7.65 million. VIQ will fund the acquisition by utilizing cash on hand;
- The proposed acquisition is expected to close in the fourth quarter of 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.
For more than 100 years, Auscript has been trusted by law firms, court administrators, and governments in Australia to deliver high-quality and timely transcripts for court matters, arbitration hearings and public inquiries.
VIQ and Auscript have a shared vision to provide unprecedented levels of access to justice through innovative technologies that modernize the creation and management of evidentiary content. Leveraging VIQ's leading technologies, Auscript’s team of dedicated transcribers with deep localized experience will continue to deliver high quality transcripts with best-in-class service.
"VIQ is on a mission to reshape the way transcripts are created, and together we have a unique opportunity to utilize technology as the foundation for change. We are excited to partner with Auscript to provide Australian courts with unparalleled quality and timely service," said Matt Fowler, Senior VP, Strategic Partnerships and M&A, VIQ Solutions. "Auscript’s strong operational acumen and industry leadership is an asset to VIQ. Together we harness more than 140 years of recording and transcription expertise, meeting our client's needs.”
For more information about VIQ, please visit viqsolutions.com.
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