Wolters Kluwer: acquires portfolio of applications

(CercleFinance.com) - Wolters Kluwer announced on Monday that it had reached an agreement with Belgian fintech Isabel Group to acquire a portfolio of cloud-based financial management and data exchange applications for E325m in cash.


These are the CodaBox digital accounting solution, the ClearFacts accountant and SME collaboration solution, the Clearnox invoice dunning solution, the Zoomit electronic document solution and the Flowin invoicing solution.

The Dutch publisher points out that these tools - which are used by over 8,000 chartered accountants and 380,000 SMEs and companies - will enable it to strengthen the expertise and positioning of Wolters Kluwer Tax & Accounting, its tax, accounting and auditing software and services subsidiary.

As part of the transaction, more than 130 employees based in Belgium and France will join the teams of Wolters Kluwer Tax & Accounting, which is present in ten European countries.

In 2023, sales generated by the scope of consolidation rose by 23% to E34m, 90% of which was recurring revenue from Benelux and France.

The acquisition is expected to close in H2 this year.


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