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CCH Acquires NZ Accounting Resource Firm - Business Fitness NZ
 
SYDNEY, Australia (9 August 2011) – CCH, a Wolters Kluwer business, today announced the acquisition of the business operated by New Zealand-based accounting content company, Business Fitness NZ. Business Fitness NZ is an innovative provider of interactive accounting content for accounting professionals. Its innovative content solutions include a range of over 2000 „how to‟, process-driven compliance and service templates as well as electronic work papers, documentation kits and software and client development tutorials and webinar programmes.

This acquisition will significantly expand CCH‟s ability to serve accounting practitioners in New Zealand with a complete content solution. A natural extension of the content already provided by CCH, the addition of the practical, „how-to‟ approach provided by Business Fitness NZ will provide professionals with a single source of authoritative and practical information to make them more productive.

Mr Russell Evans, President of Wolters Kluwer Tax & Accounting Asia Pacific and Chief Executive Officer of CCH Asia Pacific, said that clients of Business Fitness NZ and CCH will benefit significantly from the acquisition.

“We welcome the addition of the Business Fitness NZ team and products to Wolters Kluwer Tax & Accounting. This acquisition is a strategic move that will benefit professionals in New Zealand. Once completed, the complementary strengths of our premier content resources and best-of-breed solutions and service offerings will give accounting firms significant opportunities to increase their profitability and performance to global best practice levels,” Mr Evans said.

Ms Viv Brownrigg, founder and Chief Executive Officer of Business Fitness NZ, said: “We are very excited about joining Wolters Kluwer, whose services set global standards. This acquisition demonstrates a clear commitment to investing in industry-specific Intellectual Property and builds on the strengths of both organisations, as well as enhancing our services to clients.

“CCH will be retaining all Business Fitness NZ employees and clients can expect to receive the same high levels of service and attention to detail that they have become accustomed to, as well as newly available solutions from the CCH content network that can further improve their efficiency, productivity and profitability,” Ms Brownrigg continued.

Ms Brownrigg, a well respected thought leader within the accounting profession, will continue in an advisory role with Business Fitness NZ.

The transaction is expected to be completed on 31 August, after satisfaction of regulatory requirements and other customary conditions. Business Fitness NZ will continue to be known as Business Fitness NZ, and become a product line of CCH New Zealand Limited.
 
Ends.

For more information, please contact:

Greg Conway Senior Communications Advisor
Wolters Kluwer Asia Pacific
T: +61 2 9857 1886
M: 0408 290 412 greg.conway@cch.com.au
 
 
 
About CCH, a Wolters Kluwer business
 
CCH, a Wolters Kluwer business, is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Its market-leading workflow solutions help professionals use technology and information to improve their efficiency, productivity and profitability.

CCH Australia (www.cch.com.au) is the leading publisher and information provider for the professional services industries, including tax, accounting and financial planning, bankruptcy and insolvency, corporate and business law, competition and consumer law, conveyancing and property, court practice, human resources, employment and safety. CCH Australia products are authored by an in-house team of experts that work with consulting authors who are industry-leaders in their field.

Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer‟s leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.

Wolters Kluwer had 2010 annual revenues of €3.6 billion (US$5 billion/£3.1 billion), employs approximately 19,000 people worldwide, and maintains operations across Europe, North America, Asia Pacific, and Latin America, serving customers globally. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

About Business Fitness Business
 
Fitness NZ was founded in 2002 by Chartered Accountant, Viv Brownrigg.

The company‟s content suite sits within an electronic document management system, an intuitively searchable base of more than 2000 process-driven templates, many essential to the management and development of the accounting business.

Business Fitness NZ provides a managed content programme, along with the implementation and ongoing training required to get the very most from a customer‟s content investment. Customers are provided with monthly content updates which include changes in tax legislation. Content includes integrated electronic work papers, along with a compilation of other compliance procedures, checklists, standard letters and the raft of essential tools required to navigate everything from preparing a set of annual accounts, through to the detail of company, trust, taxation and ACC management.

Business Fitness NZ also provides a suite of business advisory processes and tools for those professionals most committed to helping their clients in the five fundamental areas of their business development: growth, profit, cash flow, risk management and succession.

Forward-looking statements
 
This press release 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; behaviour 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.
 
 
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