InvestorsCorporateAugust 09, 2011

CCH acquires NZ accounting resource firm - Business Fitness NZ

Acquisition will significantly expand CCH's ability to serve accounting practitioners in New Zealand with a complete content solution.

CCH, a Wolters Kluwer business, today announced the acquisition of the business operated by New Zealand-based accounting content company, Business Fitness NZ. Business Fitness NZ is an innovative provider of interactive accounting content for accounting professionals. Its innovative content solutions include a range of over 2000 'how to', process-driven compliance and service templates as well as electronic work papers, documentation kits and software and client development tutorials and webinar programmes.

This acquisition will significantly expand CCH's ability to serve accounting practitioners in New Zealand with a complete content solution. A natural extension of the content already provided by CCH, the addition of the practical, „how-to‟ approach provided by Business Fitness NZ will provide professionals with a single source of authoritative and practical information to make them more productive.

Mr Russell Evans, President of Wolters Kluwer Tax & Accounting Asia Pacific and Chief Executive Officer of CCH Asia Pacific, said that clients of Business Fitness NZ and CCH will benefit significantly from the acquisition. “We welcome the addition of the Business Fitness NZ team and products to Wolters Kluwer Tax & Accounting. This acquisition is a strategic move that will benefit professionals in New Zealand. Once completed, the complementary strengths of our premier content resources and best-of-breed solutions and service offerings will give accounting firms significant opportunities to increase their profitability and performance to global best practice levels,” Mr Evans said.

Ms Viv Brownrigg, founder and Chief Executive Officer of Business Fitness NZ, said: “We are very excited about joining Wolters Kluwer, whose services set global standards. This acquisition demonstrates a clear commitment to investing in industry-specific Intellectual Property and builds on the strengths of both organisations, as well as enhancing our services to clients. “CCH will be retaining all Business Fitness NZ employees and clients can expect to receive the same high levels of service and attention to detail that they have become accustomed to, as well as newly available solutions from the CCH content network that can further improve their efficiency, productivity and profitability,” Ms Brownrigg continued.

Ms Brownrigg, a well respected thought leader within the accounting profession, will continue in an advisory role with Business Fitness NZ.

The transaction is expected to be completed on 31 August, after satisfaction of regulatory requirements and other customary conditions. Business Fitness NZ will continue to be known as Business Fitness NZ, and become a product line of CCH New Zealand Limited.

About Wolters kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & 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.

About Wolters kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & 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.

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.
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Annemarije Dérogée-Pikaar
Annemarije Dérogée - Pikaar
Director, Corporate Affairs & Communications
Global Branding & Communications
Meg Geldens
Meg Geldens
Vice President, Investor Relations
Investor Relations