Business information company Wolters Kluwer Asia Pacific, which owns publisher CCH Australia, has continued to expand and diversify through the purchase of Diskcovery Information Management Solutions (DIMS), Australia's leading IT legal support and archive manager.
The deal, announced today, is an ideal fit for CCH, which owns legal software leader Ringtail Asia Pacific.
It is the latest in a series of strategic acquisitions by Wolters Kluwer Asia Pacific over the past two years.
Wolters Kluwer Asia Pacific Chief Executive Officer Willem van Zanten said Diskcovery will allow CCH to better service users of Ringtail Asia Pacific products - in particular the industry standard CourtBook and CaseBook software - and provided excellent growth opportunities.
Crucially, it enables CCH to provide clients with a total document management and IT outsourcing solution - something no other company is able to offer in the Australian market.
"Diskcovery is a perfect fit for CCH, providing an ideal match with our Ringtail Asia Pacific business," Mr van Zanten said.
"It is an extremely well managed company with a very strong performance record, particularly over the past three years."
Mr van Zanten said a Wolters Kluwer condition of sale was that key Diskcovery management stay with the company.
"These are the people who have built the business - we have worked very hard to ensure they remain in place," Mr van Zanten said.
"In fact, we believe our ownership of Diskcovery will provide increased growth opportunities for everyone involved with the company."
Diskcovery General Manager James Ritchie said the new ownership structure would enable the company to provide improved service and products while giving staff more career choice.
"Joining Wolters Kluwer and CCH will allow us do a better job for existing clients, in particular through close co-ordination with the Ringtail suite of products," Mr Ritchie said.
"It also gives us access to more capital to grow faster than would have been the case otherwise. We will be looking closely at opportunities in Australia and especially South-East Asia."
Diskcovery has offices in Sydney, Melbourne and Brisbane. It is Australia's leading supplier of specialised IT consulting, software and support services for litigation, merger and acquisition, due diligence and electronic archiving to the legal, banking, finance and associated industries.
It has registered 20% per annum growth over the past three years and currently has annual revenues exceeding $10 million. The sale price is confidential.
Major Diskcovery clients include the cream of Australia's legal community such as Allens Arthur Robinson, Blake Dawson Waldron, Corrs Chambers Westgarths, Freehills, Baker & McKenzie, and Malleson Stephen Jacques.
CCH Australia is a leading provider of smart information tools for business professionals, serving the legal, tax, business and education markets.
About Wolters Kluwer
The Wolters Kluwer group of companies is one of the world's largest business publishing alliances. The Group employs more than 19,000 people with interests in 26 countries, representing annual sales of more than EUR 3.8 billion in 2001. For more information, please visit www.cch.com.au
Willem van Zanten
Chief Executive Officer
Wolters Kluwer Asia Pacific
ISSUED BY: MARTIN KELLY, MJK COMMUNICATIONS: (0414) 774-978