Wolters Kluwer Tax & Accounting Expands European Online Software Solutions with Acquisition of Twinfield

6/14/2011, 9:01 AM (Source: GlobeNewswire)
SaaS-based Solutions Advance Software Offerings

Riverwoods, IL. (June 14, 2011) - Wolters Kluwer Tax & Accounting today
announced the acquisition of Twinfield, a Dutch-based pioneer and market leader
in online accounting software, serving professionals in the Netherlands, UK and
Scandinavia. Through this acquisition, Wolters Kluwer expands and complements
its existing offering of advanced software solutions for accountants and finance
professionals in SMEs in all the western European markets it serves. Twinfield
will become part of the European activities of Wolters Kluwer Tax & Accounting,
the global market leader in tax, accounting and audit solutions and services.

With more than 80,000 administrations managed online via Twinfield software, it
is an undisputed leader in online, SaaS-based collaborative accounting solutions
in Europe. The acquisition further advances Wolters Kluwer Tax & Accounting's
strategy to expand its offering of software solutions that contribute to the
productivity of accountants and SMEs in Europe. It also responds to the growing
demand for 'Software as a Service' (SaaS), applications, enabling Wolters Kluwer
to further build out its SaaS business model to meet customer demand.

"Through continuous investment and innovation, Wolters Kluwer has advanced its
position as the European market leader in information and software solutions for
finance professionals and SMEs," says Henri Van Engelen, Managing Director of
Wolters Kluwer Tax & Accounting Europe. "This acquisition strategically expands
our offering of state-of-the-art accounting software solutions. It also uniquely
positions us as the only provider today capable of offering both information and
software solutions to accountants and SMEs in the Dutch market."

"We are very pleased to be joining Wolters Kluwer. This acquisition allows
Twinfield to remain focused on our core competency: offering accountants and
finance professionals in SMEs the best online accounting solution. At the same
time, with Wolters Kluwer's global reach and commitment, we can further
strengthen and expand the Twinfield product offerings and SaaS delivery," said
André Kwakernaat, founder of Twinfield.

Terms of the acquisition are not being disclosed. Twinfield was founded in
2000. The company's head office is in the Netherlands and it has two branches in
the United Kingdom and the Ukraine. Twinfield has 75 employees.

About Wolters Kluwer Tax & Accounting
Wolters Kluwer Tax & Accounting, a division ofWolters Kluwer, is the global
leading provider of tax, accounting and audit information, software and
services. Tax, accounting, and audit professionals who serve as trusted advisors
to clients and businesses worldwide rely on authoritative content and integrated
workflow solutions from global leader Wolters Kluwer Tax & Accounting. Wolters
Kluwer had 2010 annual revenues of €3.6 billion, employs approximately 19,000
people worldwide, and maintains operations across Europe, North America, Asia
Pacific, and Latin America, serving customers globally. Wolters Kluwer is
headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on
Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
Visit our website, YouTube, follow @Wolters_Kluwer on Twitter, or look up
Wolters Kluwer on Facebook for more for information about our customers, market
positions, brands, and organization.

Should you wish to change how you receive information from Wolters Kluwer,
please click here.

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: Media Investors/Analysts
Leslie Bonacum Katrinka van Driel Jon Teppo
+1 847 267 7153 +32 476 442 558 +31 172 641 407
Leslie.Bonacum@wolterskluwer.com Katrinka.vandriel@kluwer.be ir@wolterskluwer.com

PDF version of Press Release:

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Wolters Kluwer NV via Thomson Reuters ONE

Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.