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Wolters Kluwer North America Acquires Compliance Tools, Inc.
Provider of Compliance Software Will Become Part of
(CHICAGO, March 15, 2002)
– Wolters Kluwer North America said today that it has acquired
Compliance Tools, Inc. (CTI), New York, NY, a
provider of regulatory compliance
surveillance software for the financial services industry. CTI (compliancetools.com)
will become part of CCH INCORPORATED (cch.com),
Riverwoods, Ill., a leading provider of tax, securities and business law
information and software, and a Wolters Kluwer North America company.
Terms of the sale were not released.
CTI offers three products for the financial services
markets targeting both the buy and sell sides of trading. CTI
Examiner software ensures that personal trading activities are in
compliance with federal regulation and individual trader restrictions. CTI
Portfolio BlackBox is a pre-trade compliance engine for asset
managers that supports a wide variety of tests and maintains rules
across multiple asset classes. CTI rList is an enterprise-wide
software tool designed for organizations that need to maintain
surveillance of their employees’ personal trading against restricted
Clients include financial management firms, investment
banks, mutual funds and related financial service businesses.
CTI will become part of CCH’s Business and Finance
and will complement current professional compliance tools offered by CCH
through its securities unit. This acquisition further strengthens CCH’s
position as the leading provider of comprehensive research information
services, compliance-focused desktop solutions and online tools that
guide and assist legal and business professionals in understanding,
applying and complying with U.S. securities laws and regulations.
CTI had 2001 fiscal year revenues of approximately $1.3
million and employs 13 people. CTI was founded in 1997 to develop
and market online compliance software.
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., New York
City/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 company's core activities
are Legal, Tax & Business, Health & Science and Education.
Wolters Kluwer shares are quoted on the Euronext Amsterdam.
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