RIVERWOODS, IL -- (MARKET WIRE) -- 08/30/06 -- CCH, a Wolters Kluwer business
and part of the Wolters Kluwer Tax, Accounting & Legal division,
today announced that the acquisition of the assets of ATX/Kleinrock
has been completed. ATX/Kleinrock, a division of UCG (www.ucg.com),
headquartered in Rockville, Md., supplies tax preparation, accounting
and tax research software solutions to more than 48,000 tax
professionals and CPAs throughout the U.S. CCH is a leading provider
of tax and accounting law information, software and services
(CCHGroup.com).
The acquisition will advance CCH as the professionals' first choice
for premier tax and accounting solutions, enhancing the company's
ability to meet with equal depth and breadth the special needs of
firms across market segments - from solo practitioners to large
firms.
ATX/Kleinrock products will join CCH's portfolio of market-leading
research and software solutions as a distinct product line. CCH
products include CCH Tax Research NetWork, the Accounting Research
Manager, U.S. Master Tax Guide and the ProSystem fx Office Suite of
tax and accounting software tools that help professionals streamline
their workflows, increase productivity and address staffing
challenges.
CCH plans to build on the ATX/Kleinrock portfolio by leveraging its
content and technology resources to offer customers a more complete
suite of solutions that meet their special needs and deliver the same
value proposition established by ATX/Kleinrock for their customer
base.
"CCH and ATX/Kleinrock have served tax and accounting professionals
in different market segments, but we offer the same value
proposition - best-of-breed integrated research and software workflow
solutions that meet our customers' specific needs," said CCH
President and CEO Kevin Robert. "With the ATX/Kleinrock portfolio now
part of the CCH family, CCH will focus on best serving small- to
mid-sized professionals with an expanded suite of solutions and
services designed to meet their needs."
ATX/Kleinrock has almost 300 employees and annual revenues of
approximately $40 million. Plans to acquire substantially all the
assets of ATX/Kleinrock were announced on August 1, 2006.
ATX/Kleinrock was acquired from UCG, one of the nation's premier
independent providers of business information. UCG is a portfolio of
highly focused business and professional publishing companies that
provide guidance, information, analysis, data and solutions to
customers worldwide. Terms of the acquisition were not disclosed.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider
of tax and accounting law information, software and services. It has
served tax, accounting and business professionals and their clients
since 1913. Among its market-leading products are The ProSystem fx®
Office, CCH® Tax Research NetWork(TM), Accounting Research Manager®
and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
About Wolters Kluwer
Wolters Kluwer is a leading multinational publisher and information
services company. The company's core markets are spread across the
health, corporate services, finance, tax, accounting, law, regulatory
and education sectors. Wolters Kluwer has annual revenues (2005) of
EUR 3.4 billion, employs approximately 18,400 people worldwide and
maintains operations across Europe, North America and Asia Pacific.
Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its
shares are quoted on the Euronext Amsterdam (WKL) and are included in
the AEX and Euronext 100 indices. For more information, see
www.wolterskluwer.com.
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, 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.
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