Completed transaction includes the acquisition of cloud workflow automation and data exchange solutions CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin.
Strategic combination allows Wolters Kluwer to provide the Belgium market with end-to-end coverage of the accounting workflow, from pre-accounting to post-accounting, including e-invoicing
Wolters Kluwer Tax & Accounting (TAA), today announced it has completed its previously announced acquisition of Isabel Group’s accountancy portfolio of cloud-based financial workflow and data exchange solutions for €325 million in cash.
CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin facilitate the seamless and secure transfer of bank statements, invoices, and other relevant data to optimize accountant-client collaboration and address the e-invoicing compliance needs of accounting firms and their clients across Europe. Trusted by over 8,000 accounting professionals and 380,000 small-and-midsize enterprises (SMEs), and corporate clients, these solutions help professionals increase efficiency and improve their clients’ experience.
“We are excited to close this transaction with Isabel Group as it reinforces our commitment to delivering comprehensive, top-tier accounting solutions that break down the barriers of traditional accounting practices,” said Jason Marx, CEO, Wolters Kluwer Tax & Accounting. “We believe that by combining the power of pre-accounting, e-invoicing, and post-accounting systems, we enable accounting professionals and tax advisors and small and medium-sized enterprises to streamline their operations and collaborate more efficiently. The importance of having a complete accounting workflow cannot be overstated, as it creates a seamless process that significantly boosts productivity and enhances data accuracy for the professionals we serve.”
As part of the transaction, Marie Costers, who previously served as Vice President, Business Solutions for the Isabel Group, will join Wolters Kluwer’s TAA European executive team and will continue to lead the portfolio of acquired solutions.
“With this acquisition, we're continuing to empower our customers with the tools to drive their business forward, improve their client experiences, and make the complex world of finance more manageable and effective,” said Marx. “The acquisition of this portfolio truly positions us to better serve the evolving needs of our customers, as we remain dedicated to ensuring our customers' success by continually looking to improve, expand, and evolve our portfolio of solutions.”
