A3 Software, until now a private company, was founded in 1980 and currently has some 150 staff. The company realizes double-digit sales growth with healthy profit margins and has a significant market share. The current sales level amounts to approximately EUR 1 0 million. The acquisition should be EPS enhancing in 2001.
A3 Software's customer groups comprise human resources departments of small and medium-sized companies as well as professional accounting and consultancy firms. Its main software products, which have high renewal rates and are distributed both on CD-ROM and via the Internet, include:
* Human resources and payroll applications
* Time management and accounting software
* Professional tax preparation software
A3 Software will become part of Wolters Kluwer Spain and will be managed as a separate entity by its existing management team. Other Wolters Kluwer companies in Spain include La Ley (Madrid), publisher of information and service provider for the legal market, and CISSPRAXIS (BarcelonaNalencia), provider of information and workflow tools for the Spanish business and accounting markets.
A3 Software will add a very valuable component to Wolters Kluwers Spanish operations. The company is very service-oriented and customer focused and is powered by a committed group of young, talented and highly educated staff. A3 Software is aimed at Wolters Kluwer's core markets. The acquisition fits perfectly within the strategy of expanding aggressively in the fast growing market of high quality information services for legal, tax and business professionals.