Acquisition will establish CCH as a Leading Provider of Corporate Tax Compliance Software Solutions
Sydney, Australia (April XX, 2010) — Wolters Kluwer Tax & Accounting has agreed to acquire the Tax Compliance Software (TCS) products Tax Integrator, Fringe Benefits Tax Organiser and Global Integrator from Ernst & Young Australia. The acquisition advances Wolters Kluwer’s strategy to expand its presence in the global corporate market, serving tax and accounting professionals with best-of-breed solutions. Wolters Kluwer Tax & Accounting, a division of Wolters Kluwer, is the leading global provider of tax, accounting and audit information, software and solutions.
The TCS products are market-leading software solutions that have been designed and developed in close consultation with tax clients. The Tax Integrator product has been developed to meet the corporate tax compliance demands of Australia and New Zealand. Global Integrator is a tool used to help streamline the corporate tax compliance workflow process from data gathering, provisioning all the way to filing in many geographic locations.
Wolters Kluwer Tax & Accounting CEO Kevin Robert said, “The addition of the TCS products to Wolters Kluwer’s Tax & Accounting portfolio will advance an already impressive suite of corporate tax and accounting solutions. We of course will continue to invest in and expand these products to best serve corporate professionals worldwide as we leverage our strong market positions in North America, Europe and the Asia Pacific region. These products will also facilitate the linkages between tax professionals in professional services firms as well as corporations as they complete the corporate income process from data gathering, provisioning all the way through filing.”
The TCS products are developed in Melbourne, Australia and are used by an impressive list of blue chip Australian and international corporations. All of the current TCS employees will be offered roles within Wolters Kluwer Tax & Accounting as part of the acquisition.
About Wolters Kluwer Tax & Accounting
Wolters Kluwer Tax & Accounting, a division of Wolters Kluwer, is the preferred provider of premier information, research, and software tools in the global tax and accounting arena. 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. Operating in the market as CCH, a Wolters Kluwer business, its market-leading solutions include CCH®, ProSystem fx® Suite, CorpSystem® and CCH® IntelliConnect™. Its headquarters are in Riverwoods, Illinois.
Wolters Kluwer 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 solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world. Wolters Kluwer has 2009 annual revenues of €3.4 billion ($4.8 billion/£3.0 billion), employs approximately 19,300 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. 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.
Kevin Ormrod - Director of Business Development
Wolters Kluwer Asia Pacific
Office +61 2 9857 1715; Mobile +61 416 153 467
Dave Lampert - CEO
Wolters Kluwer Asia Pacific
Office +61 2 9857 1302
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; 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.