Wolters Kluwer Acquires SureTax
(Thomson Reuters ONE) -
Expands Wolters Kluwer's position in indirect tax solutions for the fast-growing
telecoms sector
(June 30, 2015) - Wolters Kluwer Tax & Accounting announced today that it has
signed and completed an agreement to acquire SureTax, one of the most
comprehensive and technologically advanced tax calculation engines available in
the U.S. market. The acquisition will allow Wolters Kluwer to build on its
existing position serving telecoms companies with solutions for telecom
taxation, an area that is highly complex and constantly changing. It will also
create an opportunity to extend this position to the utilities and energy
sector.
SureTax, based in Alpharetta, Georgia and founded in 2011, has 7 employees and
serves over 100 customers. Wolters Kluwer and SureTax have been in partnership
since 2012, combining world-class tax content and expertise with best-of-breed
technology to deliver one of the most robust and reliable cloud-based telecoms
tax software solutions in the industry. The SureTax solution supports telecoms,
sales & use and value added tax (VAT) on a single platform, making it unique in
the marketplace. The acquisition is expected to deliver a return above Wolters
Kluwer's after tax cost of capital (8%) in 3 to 5 years, or earlier, and is
expected to be slightly earnings enhancing in the first full year.
"The acquisition of SureTax aligns with Wolters Kluwer's strategy to invest in
leading high growth positions in tax and accounting software. The profile and
number of companies impacted by telecom taxes has grown significantly over the
years as more companies are delivering services and solutions via the Internet,"
said Karen Abramson, CEO of Wolters Kluwer Tax & Accounting. "Wolters Kluwer Tax
& Accounting has long been recognized as a premier provider of telecom content
to drive automated solutions. The acquisition of SureTax, with whom we have
enjoyed a long-standing business relationship, confirms our commitment to the
corporate market and allows us to continue offering customers best-of-breed
technology and content solutions."
Wolters Kluwer will continue serving SureTax customers with the solutions and
services they value, including SureTax Telecom - a robust, real-time, accurate
tax calculation solution designed specifically for the telecommunications
industry - and SureTax Energy, which combines full workflow support and
industry-leading Wolters Kluwer tax content.
About Wolters Kluwer Tax & Accounting US
Wolters Kluwer Tax & Accounting US (CCHGroup.com) is a leading provider of tax,
accounting and audit information, software and services. It has served tax,
accounting and business professionals since 1913. Among its market-leading
solutions are the CCH® ProSystem fx® Suite, CCH Axcess(TM), CCH®
IntelliConnect®, CCH® IntelliConnect Direct, CCH® Accounting Research Manager®
and the U.S. Master Tax Guide®. Wolters Kluwer Tax & Accounting US is based in
Riverwoods, IL. Follow us on Twitter (at)CCHMediaHelp.
Wolters Kluwer Tax & Accounting US is part of Wolters Kluwer
(www.wolterskluwer.com), a market-leading global information services company.
Wolters Kluwer had 2014 annual revenues of ?3.7 billion ($4.2 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
listed on Euronext Amsterdam (WKL), on Bloomberg (WKL NA) and are included in
the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1
American Depositary Receipt program. The ADRs are traded on the over-the-counter
market in the U.S. (WTKWY).
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.
Media Contacts:
Marisa Westcott Laura Gingiss
+ 1 646-753-2980 + 1 847-267-2213
Marisa.Westcott(at)wolterskluwer.com Laura.Gingiss(at)wolterskluwer.com
Investors/Analysts:
Meg Geldens
Investor Relations
+ 31 (0)172 641 407
ir(at)wolterskluwer.com
PDF version of Press Release:
http://hugin.info/130682/R/1933082/695750.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wolters Kluwer NV via GlobeNewswire
[HUG#1933082]
Unternehmensinformation / Kurzprofil:
Datum: 30.06.2015 - 21:38 Uhr
Sprache: Deutsch
News-ID 404122
Anzahl Zeichen: 6573
contact information:
Town:
Alphen aan den Rijn
Kategorie:
Business News
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