CCH plans to expand online software solutions with agreement to acquire Acclipse
Planned acquisition will uniquely position CCH as a provider capable of offering both information and software solutions to accounting firms and their small- and medium-size enterprise (SME) clients in Australia/New Zealand and Asia Pacific markets
Sydney, Australia (12 July, 2012) — CCH, a Wolters Kluwer business, announced the signing of an agreement to acquire Acclipse Limited, a Christchurch-based pioneer and leading provider of online accounting software, serving accounting firms in Australia, New Zealand and Asia Pacific. The parties anticipate completing the acquisition on Friday, July 13, 2012.
The acquisition will dramatically expand and complement CCH’s existing offering of advanced software solutions for accounting firms and corporate finance professionals in the Asia Pacific region. Acclipse will become a CCH business unit and part of Wolters Kluwer Tax & Accounting, the global leader in tax, accounting and audit solutions and services.
With more than 1,000 accounting firms using its software, Acclipse is a leader in online collaborative accounting solutions, powering accounting firms in New Zealand, Australia and Asia Pacific. Founded in 2004, Acclipse’s success is attributed to its entire business model being designed with the end-to-end needs of not only accounting firms and advisers, but also their small- and medium-size enterprise (SME) clients in mind.
President of Wolters Kluwer Tax & Accounting Asia Pacific and CEO of Wolters Kluwer Asia Pacific, Russell Evans said the acquisition will be an important step in the region for Wolters Kluwer’s strategy to expand its offering of online software and content solutions for accountants and their clients.
“This acquisition will respond to the growing demand from accounting firms for genuine cloud-based software to support a 24/7, value-added service to clients while lowering cost of ownership. We firmly believe that cloud computing has the potential to transform how accountants work with their clients,” Mr Evans said.
CCH’s planned acquisition of Acclipse will complement its 2011 acquisition of Business Fitness New Zealand, a provider of practical content and workpapers to accounting firms, to standardise many of the common processes for compliance work.
As Business Fitness New Zealand is already integrated with the Acclipse Document Management solution, Business Fitness New Zealand clients will benefit from its content being available online.
“This end-to-end, integrated solution will be a key point of differentiation for CCH,” Mr Evans continued.
“CCH knows that accounting firms are trusted advisers to SMEs. The Acclipse suite, which was designed from the ground up to help accountants better service their clients, will lie at the heart of what we do. CCH will now be better placed more than ever to leverage our deep subject-matter expertise, global presence, rich content assets and robust technology platforms to help accounting firms work hand-in-hand with their SME clients, and ensure ‘true collaboration’,” he said.
“When combined with CCH’s outstanding content, Acclipse’s cloud-based accounting solution will give CCH what no-one else has - a fully integrated suite of software, workpapers, templates and checklists, deep research content and subject matter expertise. We are calling this offering CCH iFirm - the all-embracing firm in the cloud.”
President and Chief Executive Officer of Wolters Kluwer Tax & Accounting, Kevin Robert, said that the planned acquisition will bolster Wolters Kluwer’s leadership position in the provision of information and software solutions for accounting firms and finance professionals, and its strategic expansion into collaborative accounting solutions.
“In acquiring Acclipse, Wolters Kluwer Tax & Accounting will be uniquely positioned as a provider capable of offering both information and software solutions to accountants and their SME clients in the Asia Pacific market,” Mr Robert said. “It will also advance the Division’s expansion into the collaborative accounting market, following on our acquisition of Twinfield in the Netherlands in 2011.”
CEO and founder of Acclipse, Mike Chisholm, said Acclipse is pleased with plans to join CCH. “This acquisition will allow Acclipse to remain focused on our core competency - offering accountants and their clients great online accounting software. The global reach of CCH and Wolters Kluwer will allow us to expand the reach of our iFirm and iBizz products, and integrate these with relevant content sources to bring accountants and their clients together and achieve significant productivity improvements,” Mr Chisholm said.
With 55 employees and headquarters in Christchurch, Acclipse services over 1,000 firms and 10,000 licensed users in New Zealand, Australia and Asia Pacific.
About CCH, a Wolters Kluwer business
CCH (www.cch.com.au) is part of Wolters Kluwer, a market-leading global information services company focused on professionals with annual revenues of (2011) €3.4 billion ($4.7 billion) and approximately 19,000 employees worldwide. Please visit our website or follow us on Twitter, LinkedIn or Facebook for more information. The business is part of the Wolters Kluwer Tax & Accounting division.
About Wolters Kluwer Tax & Accounting
Wolters Kluwer Tax & Accounting is the global leading provider of tax, accounting and audit information, software and services. Tax, accounting, and audit professionals who serve as trusted advisors to clients and businesses worldwide rely on authoritative content and integrated workflow solutions from global leader Wolters Kluwer Tax & Accounting.
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