Acquisition extends Wolters Kluwer's global position in tax and accounting software
Beijing, China (September 16, 2014) - Wolters Kluwer announced today that it has acquired Dingxin Chuangzhi, a leading Chinese audit software provider for professional accounting firms, based in Beijing. Dingxin Chuangzhi has 50 employees and serves over 1,000 clients in the Greater China region. The acquisition aligns with Wolters Kluwer's strategy to expand its leading, high growth position in tax and accounting software and broadens the existing Wolters Kluwer China tax and accounting product portfolio and R&D expertise. The acquisition is expected to be earnings enhancing in its first year and to cover our weighted average cost of capital within 3-5 years.
Shasha Chang, CEO of Wolters Kluwer China, commented "Dingxin Chuangzhi allows us to expand our offerings into the Chinese audit market. Building on our strong local customer relationships, content offerings, and talent, Dingxin Chuangzhi enables us to provide a more comprehensive offering to tax, accounting, and audit professionals in China. We are extremely excited about this addition to our organization."
About Wolters Kluwer
Wolters Kluwer had 2013 annual revenues of €3.6 billion ($4.7 billion), employs approximately 19,000 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. 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.
About Dingxin Chuangzhi
Beijing Dingxin Chuangzhi Technology Co., Ltd. is a leading audit software and firm management software provider in China. Dingxin Chuangzhi serves more than a thousand of corporate and CPA firm clients in Greater China region.
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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.
