Wolters Kluwer Tax & Accounting Acquires Adsolut
September 1, 2017 - Wolters Kluwer Tax & Accounting announces today that it has signed and completed the acquisition of Adsolut, a fast-growing provider of collaborative tax and accounting solutions for tax advisors and their clients in Belgium. The purchase builds on our established market leadership position in Belgium.
Founded in 2007, Adsolut has seen rapid growth and today has 24 employees. The company offers an integrated, modular software suite, that enables online collaboration between accountants and their small and medium-sized enterprise (SME) clients. The solution supports a range of functions from bookkeeping and accounting to practice management, enterprise resource planning, reporting and analytics. The transaction is expected to have a positive but immaterial impact on adjusted EPS while generating a return on investment above our cost of capital within 3 to 5 years.
"The acquisition further strengthens our existing offering in Belgium, adding cloud functionalities and mobile solutions", said Ronny De Goedt, Managing Director of Wolters Kluwer Tax & Accounting Belgium. "Together with the Adsolut team, we will continue to innovate to address evolving customer needs and to develop applications that enable easy and efficient collaboration between tax advisors and SMEs."
About Wolters Kluwer
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, finance, risk and compliance, and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries, and employs 19,000 people worldwide.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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Forward-looking Statements and Other Important Legal Information
This report contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall" and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.