Wolters Kluwer Governance, Risk & Compliance Agrees to Sell Indirect Loan Origination Solutions
(Thomson Reuters ONE) -
September 8, 2016 - Wolters Kluwer Governance, Risk & Compliance (GRC) today
announced it has signed an agreement to sell its indirect loan origination
solutions, including the AppOne software platform, to The Reynolds and Reynolds
Company, a provider of software, documents, and professional services to
automotive retailers, for ?32 million in cash.
Wolters Kluwer's intended divestment is in line with the GRC division's strategy
to focus its financial services group of businesses on growing its market-
leading compliance content and expert solutions for banks and other financial
institutions globally.
The company's AppOne indirect loan origination platform, compliance documents
and risk mitigation services are used primarily by automotive, marine,
powersports and recreational vehicle dealers across the U.S. to facilitate
interaction with lenders. Wolters Kluwer expects to report a ?13 million book
gain, net of tax, on the divestment. Reynolds and Reynolds anticipates extending
offers of employment to 36 Wolters Kluwer employees as part of the transaction.
"As a leader in automotive dealership solutions, Reynolds and Reynolds is well-
positioned to continue to support the unique needs of indirect loan origination
customers," said Richard Flynn, CEO of Wolters Kluwer's GRC division. "Wolters
Kluwer will continue to invest in our core regulatory compliance business which
serves thousands of banks, credit unions, and mortgage lenders globally."
"At the same time, we remain committed to providing these banks and other
licensed lenders with our proven regulatory expertise, solutions and services
for their mortgage, consumer and commerical lending as well as investment and
insurance businesses," said Steven Meirink, Executive Vice President and General
Manager of the Compliance Solutions business unit for Wolters Kluwer's GRC
division.
"We continually look for ways to grow our business," said Jerry Kirwan, Senior
Vice President and General Manager of Reynolds Document Services at Reynolds and
Reynolds. "Reynolds already offers an extensive documents product portfolio,
along with well-known expertise in business forms compliance for dealerships. By
acquiring these additional documents, software and services business, Reynolds
will be able to serve an even broader set of markets and customers even more
effectively."
The divestiture is expected to close by the end of 2016.
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 expertise needed 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.
For more information about our solutions and organization, visit
www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.
About Reynolds and Reynolds
Reynolds and Reynolds is a leading provider of automobile dealership software,
services, and forms to help dealerships deliver better business results and
transform the customer experience. The company is headquartered in Dayton, Ohio,
with major operations in Houston and College Station, Texas, and Celina, Ohio.
The company also serves automotive retailers in Canada, United Kingdom, and
several European countries. (www.reyrey.com)
Media Contacts:
Annemarije Pikaar
Senior Manager, External Communications
Wolters Kluwer Global Corporate Communications
+31 172641470
press(at)wolterskluwer.com
Chuck Miller
Director,Corporate Communications
Wolters Kluwer Governance, Risk & Compliance
+1-320-217-9193
charles.miller(at)wolterskluwer.com
Thomas Schwartz
Director, Corporate Communications
Reynolds and Reynolds
+1-937-485-8109 (office)
+1-937-269-9569 (mobile)
thomas_schwartz(at)reyrey.com
Analysts/Investors Contact:
Meg Geldens
Vice President, Investor Relations
Wolters Kluwer
+31172 641 407
meg.geldens(at)wolterskluwer.com
PDF version of Press Release:
http://hugin.info/130682/R/2040875/761364.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wolters Kluwer NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 08.09.2016 - 16:00 Uhr
Sprache: Deutsch
News-ID 493663
Anzahl Zeichen: 5809
contact information:
Town:
Alphen aan den Rijn
Kategorie:
Business News
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