Wolters Kluwer Corporate Legal Services to focus on its core legal services markets
Wolters Kluwer Corporate Legal Services, the leader in legal process and business performance management, today announced the divestiture of its 25% interest in AccessData Group.
The sale of its minority interest in AccessData Group reinforces Wolters Kluwer Corporate Legal Services’(CLS) focus on its core legal services markets. CLS will continue to strengthen its position as the partner of choice for legal professionals around the world, supporting them in managing corporate compliance, legal entities, lien portfolios, brands, and legal spend.
AccessData Group was formed in 2010 by combining the businesses of AccessData and Summation, formerly part of CLS. AccessData Group operates in the digital investigation and litigation support market. Following this 2010 merger, Wolters Kluwer remained as a strategic investor to support the integration of Summation and AccessData.
The proceeds of the sale will be used for general corporate purposes. Terms of the deal were not disclosed.
About Wolters Kluwer Corporate Legal Services
Wolters Kluwer Corporate Legal Services is a group of market-leading businesses serving the largest corporations and law firms around the globe. It delivers the expertise, products and services that are reinventing the way legal professionals manage and conduct their business. CLS has emerged as the partner of choice by delivering the people, products and processes to drive transparency, ensure accountability and provide organized, accurate and actionable information for legal, financial and insurance professionals. CLS's businesses – CT Corporation, CT Lien Solutions, Corsearch, and TyMetrix – empower organizations to make better business decisions and be more efficient in today's highly transparent business environment.
About Wolters Kluwer
Wolters Kluwer is a leading global information services and solutions company. It provides information, software, and services that help legal, tax, finance, and healthcare professionals make their most critical decisions effectively and with confidence. Customers depend on Wolters Kluwer services and solutions to successfully move through the complex layers of data and regulation that define modern business and government.
Wolters Kluwer had 2012 annual revenues of €3.6 billion. The group employs over 19,000 people worldwide and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. The company is headquartered in Alphen aan den Rijn, the Netherlands. Wolters Kluwer shares are quoted on Euronext Amsterdam (symbol: WKL) and are included in the AEX and Euronext 100 indices.
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.