Wolters Kluwer to acquire IDS
Wolters Kluwer has announced plans to acquire International Document Services, Inc. (IDS) for approximately $70 million in cash. This acquisition strengthens Wolters Kluwer's Governance, Risk & Compliance (GRC) business, enhancing its digital loan compliance and document generation capabilities. IDS serves over 450 clients and is expected to generate approximately $15 million in revenues in 2022. The deal is projected to deliver a return on invested capital above 8% within 3 to 5 years and will have a positive impact on adjusted earnings in the first full year.
- Acquisition of IDS strengthens Wolters Kluwer's market position in compliance software.
- Expected revenues of IDS at approximately $15 million in 2022 bolster growth potential.
- The acquisition projected to deliver a return on invested capital above 8% within 3 to 5 years.
- None.
Wolters Kluwer to acquire IDS
March 9, 2022 — Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement with The Reynolds and Reynolds Company to acquire International Document Services, Inc. (IDS), a leading U.S. provider of compliance and document generation software solutions for the mortgage and real estate industry, for approximately $70 million in cash.
IDS will become an integral part of GRC’s Compliance Solutions business, a leading provider of compliance software for U.S. banks, lenders, credit unions, insurers, and securities firms. The acquisition builds on GRC’s existing leadership in digital loan compliance, with end-to-end capabilities spanning from document generation to eClosing, loan analytics and lien solutions.
IDS serves over 450 clients, including U.S. mortgage lenders, banks and law firms. The company’s services include initial disclosures, electronic signatures, closing documents, and document fulfillment. The IDS flagship document preparation solution, idsDoc, is a cloud-based platform that is recognized across the industry for its superior capabilities, customer service, and integrations with many of the leading loan origination systems and eClosing platforms.
IDS, founded in 1986 and based in Draper, Utah, employs approximately 75 professionals. The company is expected to generate revenues of approximately
“IDS is well-positioned to take advantage of continuing digital adoption trends and has a strong track record of innovation in the mortgage industry,” said Steven Meirink, Executive Vice President and General Manager, Compliance Solutions, Wolters Kluwer GRC. “This strategic and exciting acquisition will further solidify Wolters Kluwer’s market leadership in expert solutions for loan compliance and, alongside our eOriginal product suite, positions us as the leading provider of digital lending solutions.”
“Wolters Kluwer has a long and distinguished history of excellence and innovation, and we are truly excited to join this leading business,” commented Mark Mackey, General Manager of IDS. “This is the perfect combination that will bring the next level of capabilities to our clients and the lending market.”
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2021 annual revenues of
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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Investor Relations and Media Contacts
Investors/Analysts
| Meg Geldens |
| Investor Relations |
| Tel: + 31 (0)172 641 407 |
| ir@wolterskluwer.com |
Media
| Paul Lyon | Gerbert van Genderen Stort |
| Governance, Risk & Compliance | Corporate Communications |
| Global Corporate Communications Director | Media Relations Manager |
| Tel: +44 20 3197 6586 | Tel: +31 172 64 1230 |
| paul.lyon@wolterskluwer.com | press@wolterskluwer.com |
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; 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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