Wolters Kluwer completesProsoft transaction with Alterdata
June 1, 2021 -Wolters Kluwer Tax & Accounting today announces that it has completed the previously disclosed combination of certain Prosoft assets in Brazil with those of Alterdata in exchange for a minority interest in the combined entity.
On February 22, 2021, Wolters Kluwer Tax & Accounting agreed to combine certain Prosoft assets in Brazil with those of Alterdata Tecnologia em Informática Ltda, in exchange for a minority interest in the newly combined entity. In 2020, Prosoft generated revenues of €10 million and had 210 employees. On completion, we have recognized an unrealized foreign exchange loss of approximately €27 million (non-cash) related to the devaluation of the Brazilian real against the euro. The Prosoft transaction was originally announced in our 2020 Full-Year Report.
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory 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 2020 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,200 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 (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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Forward-looking Statements and Other Important Legal Information
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.
Attachment
- 2021.06.01 Wolters Kluwer completes Prosoft transaction with Alterdata (https://ml-eu.globenewswire.com/Resource/Download/75efc28d-971c-4e64-98f8-917e693aa538)
