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Wolters Kluwer Tax & Accounting Continues to Invest and Expand in Corporate Market with Acquisition of BSI
Acquisition Secures Company’s Content Leadership with Premier International Portfolio of Online Tax News, Analysis, Expertise
(RIVERWOODS, ILL. September 3, 2012) – Global tax authority Wolters Kluwer Tax & Accounting today announced it has acquired the assets of BSI, a leading provider of timely international tax, legal, business and investment information. The acquisition further advances Wolters Kluwer’s portfolio of premier international information supporting its continued expansion of global tax offerings in the growing corporate market. Wolters Kluwer Tax & Accounting is a global leading provider of tax, accounting and audit information, software and services.
BSI will become part of CCH, a Wolters Kluwer business. As part of Wolters Kluwer Tax & Accounting, CCH offers tax and accounting professionals in corporations around the world market-leading solutions to help them be more accurate, productive and profitable.
The acquisition secures Wolters Kluwer’s international content leadership, with BSI’s comprehensive portfolio of online news, analysis and expertise. BSI’s highly skilled professionals provide tax expertise in more than 114 countries, enabling real-time updates based on new developments, and immediate answers to global queries from professionals. More than 60,000 users rely on BSI’s network of web sites, monitoring the latest international tax developments and updates for timely, authoritative and specific international content in countries worldwide.
“Keeping current with complex and changing tax law is a challenge faced by professionals today across the globe, and with the addition of BSI’s premier content and coverage to CCH and Wolters Kluwer, we’re now uniquely able to help our customers overcome that challenge,” said Wolters Kluwer Tax & Accounting CEO Kevin Robert. “The best just got better. And, we’ll continue to invest in expanding our international corporate tax solutions to help professionals around the world.”
CCH will continue to deliver BSI’s services as distinct offerings under the CCH brand name and as part of CCH Integrator™. CCH Integrator, launched in February 2012, delivers CCH’s award-winning software and comprehensive international content to provide one centralized solution to streamline tax data collection, provision, research and compliance activity.
CCH also plans to enhance current BSI offerings, creating new products and building out integration between CCH and BSI content. BSI has been a Wolters Kluwer business partner since 2008.
“BSI was among the first companies to provide global tax information over the Internet in 1999, and it was a natural fit when CCH and BSI entered into a partner relationship five years ago,” said BSI Senior Manager Ashley Bell. “We are already closely integrated into CCH's supply chain, and this acquisition will bring exciting new opportunities for growth and innovative new solutions to Wolters Kluwer, CCH and BSI customers.”
BSI was founded in 1992 with headquarters in Hastings, U.K. The company will remain in the U.K. Terms of the acquisition were not disclosed.
About Wolters Kluwer Tax & Accounting and CCH, a Wolters Kluwer business
Wolters Kluwer Tax & Accounting, a division of Wolters Kluwer, is the leading 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. Its headquarters are in Riverwoods, Illinois.
CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. 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.
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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.