Wolters Kluwer Governance, Risk & Compliance Acquires Vcorp Services
October 7, 2016 - Wolters Kluwer Governance, Risk & Compliance (GRC) announced today it has acquired Vcorp Services, LLC, a provider of registered agent, UCC and other corporate legal services. The acquisition strengthens Wolters Kluwer GRC's existing portfolio of legal and compliance products and services by furthering CT Corporation's reach into its core markets, including small and mid-sized law firms and corporations.
Vcorp Services, based in Monsey, New York and founded in 2003, is supported by 22 employees. Vcorp joins GRC and will continue to deliver its solutions to customers as part of CT's suite of products and services. The acquisition is expected to deliver a return above Wolters Kluwer's after tax cost of capital (8%) in three to five years and is expected to be earnings enhancing in its first full year.
"Vcorp is a highly successful and growing player serving an attractive segment of our market," said John Weber, President & CEO of Wolters Kluwer GRC's Legal Information Services Group, which includes CT and Corsearch. "Vcorp's strong customer base and portfolio of products and services strengthens our overall offering and capitalizes on an important strategic opportunity to better serve small and mid-sized corporations and law firms."
"Being a part of CT will ensure Vcorp customers and employees experience even greater value from the vast resources and network now available to us," said Isaac Muller, Vcorp founder & CEO. "We look forward to combining our strengths to meet growing marketplace demands."
About Wolters Kluwer Governance, Risk & Compliance
Wolters Kluwer Governance, Risk & Compliance (GRC) provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertiseneeded to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. Its prominent brands include: AuthenticWeb(TM), Bankers Systems®, BizFilings®, Capital Changes, CASH Suite(TM), CT Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®, GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, Uniform Forms(TM), VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
About CT Corporation
CT Corporation (CT), a part of Wolters Kluwer GRC, works with businesses to offer customized solutions and expertise about business formations, legal and corporate business compliance, and business licenses. Since 1892, CT has been focused on helping businesses thrive, offering registered agent services, incorporation, LLC formation and more.
Investors/Analysts:
Meg Geldens
Investor Relations
+ 31 172 641 407
ir@wolterskluwer.com
Media Contacts:
Alison Meyerstein
Corporate Marketing & Communications
Wolters Kluwer Governance, Risk & Compliance
+1 212 894 9208
alison.meyerstein@wolterskluwer.com
Annemarije Pikaar
Senior Manager, External Communications
Wolters Kluwer Global Corporate Communications
+ 31 172 641 470
annemarije.pikaar@wolterskluwer.com
Forward-looking Statements and Other Important Legal Information
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.
