Wolters Kluwer acquires accountancy portfolio of European cloud workflow automation and data exchange solutions
Wolters Kluwer Tax & Accounting has signed an agreement to acquire Isabel Group's accountancy portfolio of cloud-based financial workflow and data exchange solutions for €325 million in cash. The acquisition includes CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin, which serve over 8,000 accounting professionals and 380,000 SMEs and corporate clients across Europe. These solutions facilitate seamless transfer of financial data and address e-invoicing compliance needs.
The portfolio complements Wolters Kluwer's existing European tax and accounting solutions, enabling end-to-end coverage of accountants' workflow. In 2023, the acquired solutions' gross revenues grew 23% to €34 million, with 90% being recurring. The acquisition is expected to reach Wolters Kluwer's cost of capital in its fifth full year of ownership and have an immaterial near-term impact on adjusted earnings. The transaction is subject to regulatory approvals and is expected to complete in the second half of 2024.
Wolters Kluwer Tax & Accounting ha firmato un accordo per acquisire il portafoglio contabile di Isabel Group, composto da soluzioni di lavoro finanziario e scambio dati basate sul cloud, per un importo di 325 milioni di euro in contanti. L'acquisizione include CodaBox, ClearFacts, Clearnox, Zoomit e Flowin, che servono oltre 8.000 professionisti contabili e 380.000 PMI e clienti corporate in tutta Europa. Queste soluzioni consentono un trasferimento fluido dei dati finanziari e rispondono alle esigenze di conformità alla fatturazione elettronica.
Il portafoglio completa le attuali soluzioni fiscali e contabili europee di Wolters Kluwer, consentendo una copertura end-to-end del flusso di lavoro degli accountant. Nel 2023, le entrate lorde delle soluzioni acquisite sono aumentate del 23% raggiungendo i 34 milioni di euro, con il 90% del totale proveniente da ricavi ricorrenti. Si prevede che l'acquisizione raggiunga il costo del capitale di Wolters Kluwer nel quinto anno completo di proprietà e avrà un impatto trascurabile a breve termine sugli utili rettificati. La transazione è soggetta ad approvazioni normative e si prevede che si completi nella seconda metà del 2024.
Wolters Kluwer Tax & Accounting ha firmado un acuerdo para adquirir el portafolio contable de Isabel Group, que comprende soluciones de flujo de trabajo financiero y intercambio de datos basadas en la nube, por 325 millones de euros en efectivo. La adquisición incluye CodaBox, ClearFacts, Clearnox, Zoomit y Flowin, que sirven a más de 8.000 profesionales contables y 380.000 pymes y clientes corporativos en toda Europa. Estas soluciones facilitan la transferencia fluida de datos financieros y abordan las necesidades de cumplimiento de la facturación electrónica.
El portafolio complementa las soluciones fiscales y contables europeas existentes de Wolters Kluwer, permitiendo una cobertura integral del flujo de trabajo de los contables. En 2023, los ingresos brutos de las soluciones adquiridas crecieron un 23% alcanzando los 34 millones de euros, con un 90% de ingresos recurrentes. Se espera que la adquisición alcance el costo de capital de Wolters Kluwer en su quinto año completo de propiedad y tenga un impacto materialmente insignificante a corto plazo en las ganancias ajustadas. La transacción está sujeta a aprobaciones regulatorias y se espera que se complete en la segunda mitad de 2024.
Wolters Kluwer 세무 및 회계가 이스벨 그룹의 회계 포트폴리오를 클라우드 기반의 금융 워크플로우 및 데이터 교환 솔루션으로 3억 2500만 유로에 현금으로 인수하는 계약을 체결했습니다. 이 인수에는 CodaBox, ClearFacts, Clearnox, Zoomit 및 Flowin이 포함되어 있으며, 이들은 유럽 전역에서 8,000명 이상의 회계 전문가와 38만 개의 중소기업 및 기업 고객에게 서비스를 제공합니다. 이러한 솔루션은 재무 데이터의 매끄러운 전송을 촉진하고 전자 청구서 준수 요구 사항을 충족합니다.
이 포트폴리오는 Wolters Kluwer의 기존 유럽 세무 및 회계 솔루션을 보완하여 회계사의 워크플로우를 종합적으로 지원합니다. 2023년에는 인수된 솔루션의 총 수익이 23% 증가하여 3400만 유로에 달했으며, 이 중 90%가 반복 수익입니다. 이 인수는 Wolters Kluwer의 자본 비용에 다섯 번째 완전 소유 연도에 도달할 것으로 예상되며 조정된 수익에 대한 단기적인 영향은 미비할 것으로 보입니다. 거래는 규제 승인에 따라 달라지며 2024년 하반기에 완료될 것으로 예상됩니다.
Wolters Kluwer Tax & Accounting a signé un accord pour acquérir le portefeuille comptable du groupe Isabel, comprenant des solutions de flux de travail financier et d'échange de données basées sur le cloud, pour un montant de 325 millions d'euros en espèces. L'acquisition comprend CodaBox, ClearFacts, Clearnox, Zoomit et Flowin, qui servent plus de 8 000 professionnels de la comptabilité et 380 000 PME et clients d'entreprise à travers l'Europe. Ces solutions facilitent le transfert fluide des données financières et répondent aux besoins de conformité en matière de facturation électronique.
Le portefeuille complète les solutions fiscales et comptables européennes existantes de Wolters Kluwer, permettant une couverture de bout en bout du flux de travail des comptables. En 2023, les revenus bruts des solutions acquises ont augmenté de 23 % pour atteindre 34 millions d'euros, dont 90 % étaient récurrents. L'acquisition devrait atteindre le coût du capital de Wolters Kluwer au cours de sa cinquième année complète de propriété et avoir un impact négligeable à court terme sur les bénéfices ajustés. La transaction est soumise à des approbations réglementaires et devrait être finalisée au second semestre 2024.
Wolters Kluwer Tax & Accounting hat eine Vereinbarung zur Übernahme des Rechnungswesen-Portfolios der Isabel Group unterzeichnet, das cloudbasierte Lösungen für Finanzworkflows und Datenaustausch umfasst, für 325 Millionen Euro in bar. Die Übernahme beinhaltet CodaBox, ClearFacts, Clearnox, Zoomit und Flowin, die mehr als 8.000 Buchhaltungsprofis und 380.000 KMU sowie Unternehmensklienten in ganz Europa bedienen. Diese Lösungen ermöglichen einen nahtlosen Transfer von Finanzdaten und erfüllen die Bedürfnisse der E-Rechnungsstellung.
Das Portfolio ergänzt die bestehenden europäischen Steuer- und Buchhaltungslösungen von Wolters Kluwer und ermöglicht eine durchgängige Abdeckung des Arbeitsablaufs von Buchhaltern. Im Jahr 2023 stiegen die Bruttoeinnahmen der erworbenen Lösungen um 23 % auf 34 Millionen Euro, wobei 90 % wiederkehrend waren. Es wird erwartet, dass die Übernahme im fünften vollen Jahr des Eigentums die Kapitalkosten von Wolters Kluwer erreicht und kurzfristig einen nicht spürbaren Einfluss auf die bereinigten Einnahmen hat. Die Transaktion muss noch genehmigt werden und soll in der zweiten Jahreshälfte 2024 abgeschlossen werden.
- Acquisition of cloud-based financial workflow solutions for €325 million
- Portfolio serves over 8,000 accounting professionals and 380,000 SMEs
- Complements existing European tax and accounting solutions
- Acquired solutions' gross revenues grew 23% to €34 million in 2023
- 90% of revenues are recurring in nature
- Immaterial near-term impact on Wolters Kluwer adjusted earnings
- Return on invested capital expected only in the fifth full year of ownership
PRESS RELEASE
Wolters Kluwer acquires accountancy portfolio of European cloud workflow automation and data exchange solutions
Acquisition includes CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin
Alphen aan den Rijn - July 29, 2024 — Wolters Kluwer Tax & Accounting (TAA) today announces that it has signed an agreement with Belgian fintech company Isabel Group to acquire its accountancy portfolio of cloud-based financial workflow and data exchange solutions for
CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin facilitate the seamless and secure transfer of bank statements, invoices, and other relevant data to optimize 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.
Wolters Kluwer and Isabel Group have an established, longstanding relationship and partnership. This portfolio complements Wolters Kluwer’s existing European tax and accounting solutions and enables it to provide end-to-end coverage of the accountants’ workflow from pre-accounting to post-accounting. More than 130 FTEs, based in Belgium and France, will join Wolters Kluwer Tax & Accounting Europe, which spans ten countries in Europe.
“The need to accelerate digital transformation to meet client needs is paramount,” said Jason Marx, CEO, Wolters Kluwer Tax & Accounting. “Isabel Group’s portfolio of leading accountancy solutions aligns perfectly with our vision to enable tax and accounting professionals and businesses of all sizes to drive productivity, navigate change, and deliver better outcomes. This acquisition, which complement the services we provide to Wolters Kluwer customers today, will deliver innovative platforms that deepen the collaboration between accountants and SMEs.”
“We are proud to have built such strong products and services for the accounting sector with Isabel Group,” said Bram Somers, Chairman of the Board of Directors, Isabel Group. “We are convinced that Wolters Kluwer Tax & Accounting is the ideal partner to further build on the success of these services.”
In 2023, gross revenues of the acquired solutions grew
To learn more about Wolters Kluwer, please visit: www.wolterskluwer.com.
To learn more about Isabel Group, please visit www.isabelgroup.eu
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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
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| Media Contacts | Investors/Analysts |
| Shannon Wherry | Meg Geldens |
| Associate Director, External Communications Tax & Accounting | Vice President, Investor Relations |
| Wolters Kluwer | Wolters Kluwer NV |
| Office +1 972-209-2767 | ir@wolterskluwer.com |
| shannon.wherry@wolterskluwer.com | |
| Dave Guarino | |
| Vice President, Global Communications | |
| Wolters Kluwer | |
| Office +1 646 954 8215 | |
| dave.guarino@wolterskluwer.com | |
| Rene Struijs | |
| Communications | |
| Wolters Kluwer - Netherlands | |
| Office +31 624227433 | |
| Rene.Struijs@wolterskluwer.com | |
| Sylvie Vandevelde | |
| VP Business Development & Marketing Communications | |
| Isabel Group | |
| Office +32 474 519 028 | |
| svandevelde@isabelgroup.eu |
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; conditions created by global pandemics, such as COVID-19; 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. Trademarks referenced are owned by Wolters Kluwer N.V. and its subsidiaries and may be registered in various countries.
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