Wolters Kluwer to Buy Accountancy Solutions Portfolio for EUR325 Million
By Anthony O. Goriainoff
Wolters Kluwer said it agreed to buy a portfolio of accountancy solutions for 325 million euros ($352.9 million) in cash from Belgian fintech company Isabel Group.
The Dutch information services company said Monday that the portfolio was made up of cloud-based financial workflow and data exchange solutions and that it complemented its existing European tax and accounting offering.
It added that the transaction is expected to complete in the second half.
The company said the portfolio--which encompasses products such as CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin--addressed the e-invoicing compliance needs of accounting firms and their clients in Europe.
"This acquisition... will deliver innovative platforms that deepen the collaboration between accountants and small-and-midsize enterprises," Chief Executive Jason Marx.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 29, 2024 02:38 ET (06:38 GMT)
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