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Wolters Kluwer Acquires Compliance International, Inc.
Provider of Electronic Securities, Banking Products
Will Become Part of CCH INCORPORATED
(CHICAGO, March 14, 2001) Wolters Kluwer North America announced today that
it has acquired Compliance International, Inc., Fairfield, NJ, a provider of electronic
regulatory information for the financial services market. Compliance International will be
operated as a subsidiary of CCH INCORPORATED (CCH), Riverwoods, Ill., a leading provider
of tax and business law information, software and services, and a Wolters Kluwer North
America company. Terms of the agreement were not disclosed.
Compliance International offers a series of 30 products covering securities and banking
topics and compliance information, primarily for broker/dealers, exchange members and
other professionals in financial institutions. Its product portfolio is delivered
primarily via the Internet and CD-ROM, enhanced by specialized electronic services, such
as customizable e-mail services that notify subscribers of rule changes and notices
throughout the day.
In securities, Compliance International focuses on guiding industry professionals in
complying with complex securities laws and regulations, exchange rules and written
supervisory procedures for broker/dealers. The company provides comprehensive and
customizable electronic manuals for branch managers, registered sales representatives and
users of the National Association of Securities Dealers web site, assisting them in
maintaining procedures that are in compliance with laws, regulations and exchange rules.
Compliance Internationals growing banking line covers federal and state banking
laws and regulations and related compliance activities. In recent years, the company has
aggressively developed and launched a series of state banking training products.
The acquisition of Compliance International further solidifies Wolters Kluwers
position as a leading provider of securities and banking legal information and compliance
tools to the financial services industry, corporations and legal professionals in the
U.S., primarily through CCH and Aspen Publishing, Inc., Gaithersburg, Md.
The acquisition allows CCH, the leader in securities law research since the 1930s, to
expand its securities products portfolio and further its strategy of creating critical
compliance-focused information, desktop solutions and online tools.
In addition, it allows CCH, whose primary securities customers are attorneys and
corporations, to expand its expertise more fully into the broker/dealer market and
Compliance International banking products are an effective extension of CCHs
rapidly expanding leadership in the banking and financial services markets through its
banking law portfolio and its banking and lending compliance solutions unit, Bankers
Systems, Inc., St. Cloud, Minn.
Compliance International had 2000 revenues of approximately $3.5 million and employs
approximately 30 people.
About Wolters Kluwer
Wolters Kluwer North America, headquartered in Chicago, is a unit of Wolters Kluwer nv,
Amsterdam. It is comprised of a number of highly respected legal, tax and business
information, software and service companies, including Aspen Publishing, Inc.,
Gaithersburg, Md.; CCH Canadian, Toronto; CCH INCORPORATED, Riverwoods, Ill.; CCH Legal
Information Services, New York City; and CCH Tax Compliance, Torrance, Calif.
Wolters Kluwer nv (www.wolterskluwer.com)
is a multinational information services company with annual sales of more than EUR 3
billion, employing approximately 19,000 people in Europe, North America and Asia Pacific.
The companys core activities are Legal, Tax & Business, International Health
& Science and Education. The Wolters Kluwer shares are quoted on the Euronext
Amsterdam. Financial results for
the year 2000 will be announced on March 27, 2001.
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