Wolters Kluwer Law & Business Completes Acquisition of Accountants
Division of MYOB UK and MYOB Ireland
Addition expands CCH's suite of professional practice software
products
London (April 14, 2008) - Wolters Kluwer Law & Business today
announced that it has completed the acquisition from MYOB Limited of
the Accountants Division of MYOB UK and MYOB Ireland, software and
services providers to accountancy practices. The units are now part
of Wolters Kluwer UK, one of the most respected providers of
specialist products and services for the accounting, tax and finance
professions. The agreement to purchase was announced on March 31,
2008.
Bob Becker, President and CEO of Wolters Kluwer Law & Business, said:
"The combination of Wolters Kluwer UK, through its CCH Software
division, and the Accountants Division of MYOB UK and Ireland is very
good news for the accountancy profession. It is an opportunity for
professionals to benefit from innovative 'best of breed' products and
new capabilities in workflow tool development, training and
consultancy."
By bringing together the strengths and expertise of the two
businesses, CCH will be able to provide customers with access to
enhanced software and service solutions, covering tax, audit,
accounts production, insolvency, practice management and document
management in the UK and Ireland.
Like CCH, MYOB employs highly skilled and talented people and offers
a wide range of software, including market-leading systems like
Viztopia Practice Management, Viztopia Accounts Production and
PerTax. Over 2,500 customers, of which 1,700 are accountancy
practices, currently use MYOB UK and Ireland products to streamline
processes and maximise productivity.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a provider of research products and
software solutions in key specialty areas for legal and business
professionals. Wolters Kluwer UK, incorporating the core brands
Croner and CCH, is part of the Wolters Kluwer Law & Business group.
It is the UK's most respected provider of information and consultancy
services, providing a range of information tools that help make
businesses more effective and profitable. CCH is a provider of
specialist products and services for the accounting, tax and finance
professions. Currently 17 out of the top 20 accounting practices in
the UK rely on CCH for information, software, fee protection
insurance, professional development, magazines and telephone advice.
For more information visit www.cch.co.uk.
About Wolters Kluwer
Wolters Kluwer is a leading global information services and
publishing company. The company provides products and services
globally for professionals in the health, tax, accounting, corporate,
financial services, legal, and regulatory sectors. Wolters Kluwer has
annual revenues (2007) of ¤3.4 billion, maintains operations in over
33 countries across Europe, North America, and Asia Pacific and
employs approximately 19,500 people worldwide. Wolters Kluwer is
headquartered in Amsterdam, the Netherlands. Its shares are quoted on
the Euronext Amsterdam (WKL) and are included in the AEX and Euronext
100 indices. Visit www.wolterskluwer.com for information about our
market positions, customers, brands, and organization.
About MYOB
MYOB is an international provider of solutions that liberate business
owners and accountants from the burden of day to day administration,
empowering them to achieve business success. The company develops and
delivers award-winning software, services and support for more than
700,000 businesses and accounting practices.
MYOB Limited is a public company listed on the Australian Stock
Exchange (ASX symbol 'MYO').
Forward-looking Statements
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; 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.
Contact: Leslie Bonacum Kevin Entricken
Director of Communications Vice President,
Wolters Kluwer Investor Relations
Tax, Accounting & Legal Wolters Kluwer nv
+1 847 267 7153 +31 20 6070 407
mediahelp@cch.com ir@wolterskluwer.com
