Fox Williams advised VIQ Solutions Inc. (“VIQ” ) (TSX and Nasdaq: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, on its recent acquisition of The Transcription Agency (“TTA”), a leading supplier of secure outsourced transcription services to clients in private and public sectors throughout the United Kingdom.
The strategic acquisition, which completed on 1 October 2021, positions VIQ to provide localised services to government agencies as a natural extension of its current CapturePro™ footprint.
TTA, a registered supplier of outsourced transcription awarded by the government NHS Shared Business Services Group, has more than two decades of experience providing reliable, accurate and timely transcripts. Serving complementary markets, VIQ and TTA have a solid foundation to build on, which will enable the Company to expand its product and service offerings, including the introduction of FirstDraft, in the region.
Susan Sumner, President and Chief Operating Officer at VIQ said: “We continue to pursue strategic, accretive acquisitions across the globe, for which we have a strong pipeline. We have developed a disciplined M&A methodology that has led to repeatable outcomes to grow our client and talent base, to drive top line growth and enable gross margin productivity gains on larger volumes of data enabling profitable scale. The successful integration of our acquired companies brings us closer to being the leading global provider of evidentiary documentation for enterprise and government agencies around the globe.”
Head of Corporate Richie Clark and corporate partner Hannah Elliott led the Fox Williams team on the deal, which also included senior associates Nazim Alom and Bethany Silkin (Corporate), partner Emma Bailey (Tax), partner David Murphy and associate Grace Waterhouse (both Employment) and partner Nish Kapoor and senior associate Rebecca Facey (Real Estate).
Richie Clark said: “We were delighted to assist VIQ on its successful strategic acquisition of TTA, its first in the UK, which enabled VIQ to establish an excellent platform for the future growth of its market leading transcription technology business in the UK and Europe.”