ALPHEN AAN DEN RIJN, Netherlands, June 1, 2016 (GLOBE NEWSWIRE) -- Wolters Kluwer Tax & Accounting announced today that it has signed and completed an agreement to acquire CPE Link, a leading online provider of continuing professional education (CPE) for accountants, tax preparers, and financial advisors. The acquisition will expand and complement Wolters Kluwer's existing learning portfolio and enable us to reach a broader range of customers.
CPE Link, based in San Jose, CA, and founded in 2008, has five full-time employees and serves more than 10,000 practitioners in the tax and accounting space. Through its proprietary web-based learning management system (LMS), CPE Link offers an easy way for today's practitioners to meet all their mandatory CPE requirements and keep up with the latest industry changes via live webcasts, and multi-media, mobile friendly on-demand courses. The transaction is expected to have a positive but immaterial impact on adjusted EPS, while generating a return on investment above Wolters Kluwer's cost of capital within 3 to 5 years.
"The acquisition of CPE Link allows us to strengthen our current learning offerings, expand our product line to address tax and accounting professionals' specific needs, and cater to more practitioners with a broader range of targeted online learning opportunities," said Josh Braunstein, EVP and General Manager of Wolters Kluwer Tax & Accounting, Research & Learning. "CPE Link offers an easy way for today's practitioners to meet all of their mandatory CPE requirements and keep up with the latest industry changes, which is very much in line with our commitment to delivering content and tools that are simple, practical, accurate and allow people to gain faster insight."
About Wolters Kluwer Tax & Accounting
Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency.
Wolters Kluwer Tax & Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal 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 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.
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).
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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/2017288/748483.pdf
Source:Wolters Kluwer NV