Wolters Kluwer Acquires Prosoft in Brazil
20 May 2013 - 4:01PM
Acquisition extends Wolters Kluwer's leading position in
Tax & Accounting software
Alphen aan den Rijn, and
Riverwoods, Illinois (May 20, 2013) - Wolters Kluwer
announced today that it has acquired Prosoft Tecnologia S.A., a
leading provider of tax and accounting software based in Sao Paolo,
Brazil. The acquisition aligns with Wolters Kluwer's strategy
to expand its leading, high growth positions. Established in
1985, Prosoft is one of the largest tax and accounting software
solutions providers in Brazil, with 250 employees, and serving all
27 states.
Nancy McKinstry, CEO of Wolters Kluwer, commented
"Tax and accounting software is a leading, growing business for
Wolters Kluwer, and this acquisition further expands our global
position in this area to one of the world's faster-growing
geographies.
Kevin Robert, CEO of Wolters Kluwer Tax &
Accounting, commented "Prosoft allows us to rapidly establish a
significant presence in Brazil while at the same time also
advancing our move into cloud-based collaborative solutions."
The management of Prosoft, led by CEO Carlos Meni,
will stay with the company. Mr. Meni commented "We are very pleased
to become part of Wolters Kluwer. The combination will allow
Prosoft to remain focused on our customers, who are professionals
in the fields of tax, accounting, and business. At the same time,
with Wolters Kluwer's global reach and expertise in this field, we
will be able to strengthen and build on our offerings to deliver
even greater value."
Prosoft offers a fully integrated suite of tax,
accounting, payroll, document management, and filing software
solutions and its products are used by over 150,000 professional
users today. Prosoft solutions cover all aspects of the recently
introduced electronic tax, accounting, payroll, and invoicing
requirements under "SPED" (Sistema Público de Escrituração
Digital), the country's new Public Digital Bookkeeping System,
implemented by the government to improve compliance, auditing, and
collection efficiency. Brazil has an extensive and complex tax
system and due to the government's increased emphasis on
compliance, there is growing demand for solutions that streamline
workflow and mitigate compliance risk. Terms of the acquisition
were not disclosed.
About Wolters
Kluwer
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.
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.
Forward-looking Statements
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.
Contact: |
Media
Leslie Bonacum
+1-847-267-7153
+31 172 641 421
mediahelp@cch.com |
|
Investors/Analysts
Meg Geldens
+31 172 641 407
ir@wolterskluwer.com |
PDF version of Press
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Source: Wolters Kluwer NV via Thomson Reuters ONE
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