Wolters Kluwer unit to acquire software company

09/04/06 - newratings.com

LONDON, September 4 (newratings.com) – Netherlands-based publisher and information services provider Wolters Kluwer NV (WOSB) Monday announced the acquisition of accounting and tax firm Taxwise Corp for an undisclosed amount.

Georgia, US-based Taxwise is being acquired by Wolters Kluwer’s CCH unit, which is a leading provider tax and accounting software and services. Kevin Robert, CCH’s president and chief executive, said in a statement that the acquisition will enable the company to expand its presence in the software segment, besides boosting its client base. Wolters Kluwer said that the acquisition of Taxwise Corporation, which has annual revenues of nearly $53 million and 300 employees, was in-line with the former’s growth strategy. The closing of the transaction is subject to the fulfillment of certain regulatory requirements.