Wolters Kluwer Legal & Regulatory Solutions Divests Non-Core UK Assets
11 December 2015 - 7:01PM
December 11, 2015 - Wolters Kluwer Legal & Regulatory Solutions
today announces the sale of its UK-based HR consulting and tax fee
protection services units to Peninsula Business Services. The
transaction supports the division's strategy to concentrate on
legal information and software solutions for law firms, corporate
counsel, and other compliance professionals.
"In divesting to Peninsula, we sought to align
these consulting and advisory business lines with a buyer who is
well positioned to continue to serve the needs of our customers,"
said Stacey Caywood, CEO, Legal & Regulatory
Solutions.
Peninsula Business Services is a leading provider of employment
law, HR and Health & Safety consultancy services in the
UK.
The UK-based HR consulting and tax fee protection services units
had revenues of €31 million in 2014 and have approximately 270
employees. The agreement is effective immediately. Terms of the
agreement are not being disclosed.
About Wolters
Kluwer
Wolters Kluwer reported 2014 annual revenues of €3.7 billion. The
group serves customers in over 170 countries, and employs over
19,000 people worldwide. The company is headquartered in Alphen aan
den Rijn, the Netherlands. Wolters Kluwer shares are listed on
Euronext Amsterdam (WKL) and are included in the AEX and Euronext
100 indices. Wolters Kluwer has a sponsored Level 1 American
Depositary Receipt program. The ADRs are traded on the
over-the-counter market in the U.S. (WTKWY). Wolters Kluwer Legal
& Regulatory Solutions is a division of Wolters Kluwer, serving
customers around the world with expert information solutions,
software, and services in the areas of law, business, and
regulatory compliance. Customers of Wolters Kluwer Legal &
Regulatory Solutions include law firms, corporate law departments,
business compliance professionals, corporate legal counsel, legal
educators, universities, libraries, and government agencies.
Media Contact: |
Investors/Analysts: |
Leslie
Bonacum |
Meg
Geldens |
Legal
& Regulatory Solutions Communications |
Investor
Relations |
+1
847-267-7153 |
+ 31
(0)172 641 407 |
Leslie.bonacum@wolterskluwer.com |
ir@wolterskluwer.com |
Forward-looking
Statements
This report 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.
PDF version of Press
Release
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wolters Kluwer NV via Globenewswire
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