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Wolters Kluwer U.S. Acquires
Leading HR Software, Internet Provider Will Become Part Of CCH INCORPORATED
(CHICAGO, March 15, 2000) Wolters Kluwer U.S. (WKUS), Chicago, and
KnowledgePoint, Petaluma, Calif., said today that WKUS has acquired the international
human resources management company. KnowledgePoint will become part of CCH INCORPORATED
(CCH), Riverwoods, Ill., a leading provider of human resources management and employment
law information and software, and a Wolters Kluwer U.S. company. Terms of the deal were
The agreement brings together two very prominent and respected names in the
professional human resources (HR) marketplace. For more than 85 years, CCHs Health
and Human Resources group has provided HR professionals and attorneys with authoritative
and timely information and software for understanding and complying with
employment-related laws and regulations. KnowledgePoint is the trusted market leader in HR
management software, as well as an innovative developer of Internet and specialized
"KnowledgePoint will allow CCH to expand its existing presence in the human
resources market, providing current and new customers with an extended range of software,
customized tools and information," said Rebecca K. Hensley, president and CEO, CCH.
"Most important, CCH can pursue further an integrated system of content, software
applications and customized HR management systems delivered over corporate intranets.
Acquiring KnowledgePoint propels CCH into a firm position of providing a
business-to-business Internet portal with high sales growth potential."
Established in 1987, KnowledgePoint provides HR professionals and managers with
customizable software that combines productivity tools with expert information. Among its
most well-known Internet and software products are Performance Impact, the
companys popular performance management system; Performance Now for creating
comprehensive employee performance appraisals; Descriptions Now, which helps
managers develop job descriptions that comply with employment laws; Policies Now,
which supports the development of policies and employee handbooks; and People Manager,
an HR information system.
In addition, KnowledgePoint operates HRTools.com (www.hrtools.com), a virtual HR department on the Web, which presents an
extensive selection of subscription-based and free HR applications and information for
organizations. It reached more than 30,000 registered users in 1999 and CCH expects this
to more than double by the end of the year. HRTools.com sales are expected to
accelerate through incremental e-commerce revenue streams from related products and
services of CCH and other Wolters Kluwer companies.
In recent years, KnowledgePoint has moved aggressively into providing enterprise
performance management solutions that combine network, intranet and hosted applications to
help large organizations effectively manage their employees performance. The company
is a pioneer in hosted software, first offering online applications in 1997.
"Marrying CCHs rich content with KnowledgePoints technology know-how
opens up substantial new opportunities for customers of both companies," said Michael
Troy, president, KnowledgePoint. "With CCH behind us, well be able to move even
more vigorously to develop and bring new and essential products and services to
CCH tracks, reports, explains and analyzes law related to employment, worker safety,
Social Security and pension and benefit administration. Its flagship products include Human
Resources Management, CCH Pension Guide, U.S. Master Employee Benefits Guide
and CCH Shared Learningä Training. In addition, the
company operates the CCHâ Internet Research NetWorkä , a standard-setting Internet site for HR research and news.
CCH said the current line-up of KnowledgePoint products will remain under the
KnowledgePoint brand name and product development will be accelerated.
"Under the new ownership, we will be able to greatly expand our product offerings
sooner than anticipated," said Troy. "It put us in a rapid growth phase."
KnowledgePoints 2000 revenues are projected to be approximately $9.1 million. The
company currently employs approximately 65 people in Petaluma.
Since 1987, KnowledgePoint has been a leading developer of knowledge-based human
resource management systems. The companys award-winning portfolio includes
Windows-based, intranet, Web and hosted solutions for enterprise, small businesses and
With the creation of HRTools.com, KnowledgePoint plans to provide the most
comprehensive, trusted and widely distributed online business center helping small to
mid-sized employers manage their employees. KnowledgePoint is at email@example.com or on the
Web at www.knowledgepoint.com.
About CCH INCORPORATED
CCH INCORPORATED, founded in 1913, has served four generations of business
professionals and their clients. The company produces approximately 700 print and
electronic products for tax, legal, securities, human resources, health care and small
business markets. CCH is a wholly owned subsidiary of Wolters Kluwer U.S. The CCH web site
can be accessed at www.cch.com and its
Human Resources Group web site can be accessed at http://hr.cch.com.
About Wolters Kluwer U.S.
Wolters Kluwer U.S., headquartered in Chicago, is a unit of Wolters Kluwer nv,
Amsterdam. North American operations include a number of highly respected companies
specializing in tax, legal and regulatory products and services, including Aspen
Publishers, CCH Canadian, CCH INCORPORATED, CCH Legal Information Services and CCH Tax
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