Wolters Kluwer completes acquisition of the Isabel Group’s European accountancy portfolio

PRESS RELEASE

Wolters Kluwer completes acquisition of the Isabel Group’s European accountancy portfolio

Completed transaction includes the acquisition of cloud workflow automation and data exchange solutions CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin

Strategic combination allows Wolters Kluwer to provide the Belgium market with end-to-end coverage of the accounting workflow, from pre-accounting to post-accounting, including e-invoicing

Alphen aan den Rijn — September 5, 2024 — Wolters Kluwer Tax & Accounting (TAA), today announced it has completed its previously acquisition of Isabel Group’s accountancy portfolio of cloud-based financial workflow and data exchange solutions for €325 million in cash.

CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin facilitate the seamless and secure transfer of bank statements, invoices, and other relevant data to optimize accountant-client collaboration and address the e-invoicing compliance needs of accounting firms and their clients across Europe. Trusted by over 8,000 accounting professionals and 380,000 small-and-midsize enterprises (SMEs), and corporate clients, these solutions help professionals increase efficiency and improve their clients’ experience.

“We are excited to close this transaction with Isabel Group as it reinforces our commitment to delivering comprehensive, top-tier accounting solutions that break down the barriers of traditional accounting practices,” said Jason Marx, CEO, Wolters Kluwer Tax & Accounting. “We believe that by combining the power of pre-accounting, e-invoicing, and post-accounting systems, we enable accounting professionals and tax advisors and small and medium-sized enterprises to streamline their operations and collaborate more efficiently. The importance of having a complete accounting workflow cannot be overstated, as it creates a seamless process that significantly boosts productivity and enhances data accuracy for the professionals we serve.”

As part of the transaction, Marie Costers, who previously served as Vice President, Business Solutions for the Isabel Group, will join Wolters Kluwer’s TAA European executive team and will continue to lead the portfolio of acquired solutions.

“With this acquisition, we're continuing to empower our customers with the tools to drive their business forward, improve their client experiences, and make the complex world of finance more manageable and effective,” said Marx. “The acquisition of this portfolio truly positions us to better serve the evolving needs of our customers, as we remain dedicated to ensuring our customers' success by continually looking to improve, expand, and evolve our portfolio of solutions.”

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About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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This press release 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; conditions created by pandemics; 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.

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