ALPHEN AAN DEN RIJN, Netherlands, Dec. 11, 2015 (GLOBE NEWSWIRE) -- Wolters Kluwer Legal & Regulatory Solutions today announces the sale of its UK-based HR consulting and tax fee protection services units to Peninsula Business Services. The transaction supports the division's strategy to concentrate on legal information and software solutions for law firms, corporate counsel, and other compliance professionals.
"In divesting to Peninsula, we sought to align these consulting and advisory business lines with a buyer who is well positioned to continue to serve the needs of our customers," said Stacey Caywood, CEO, Legal & Regulatory Solutions. Peninsula Business Services is a leading provider of employment law, HR and Health & Safety consultancy services in the UK. The UK-based HR consulting and tax fee protection services units had revenues of €31 million in 2014 and have approximately 270 employees. The agreement is effective immediately. Terms of the agreement are not being disclosed.
About Wolters Kluwer
Wolters Kluwer reported 2014 annual revenues of €3.7 billion. The group serves customers in over 170 countries, and employs over 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. 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 program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY). Wolters Kluwer Legal & Regulatory Solutions is a division of Wolters Kluwer, serving customers around the world with expert information solutions, software, and services in the areas of law, business, and regulatory compliance. Customers of Wolters Kluwer Legal & Regulatory Solutions include law firms, corporate law departments, business compliance professionals, corporate legal counsel, legal educators, universities, libraries, and government agencies.
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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.
PDF version of Press Release http://hugin.info/130682/R/1972903/721653.pdf
Source:Wolters Kluwer NV