Wolters Kluwer Legal & Regulatory Solutions today announced the acquisition of Effacts, a Netherlands-based provider of legal management software to corporate legal departments in Europe and the U.S.
“Across the globe, corporate legal professionals are increasingly focused on information and software solutions that address their needs in legal risk management and compliance, and support increased productivity and efficiency. The acquisition of Effacts further advances Wolters Kluwer's offerings to the corporate segment in meeting these needs,” said Frans Klaassen, Managing Director of Legal & Regulatory Solutions for Wolters Kluwer in the Netherlands.
“We are very pleased to become part of Wolters Kluwer,” said Harm Bavinck, founder and CEO of Effacts. “Wolters Kluwer's global footprint and commitment to product development and innovation will enable us to further enhance and extend our product offerings, benefitting professionals around the world.”
Effacts, founded in 2002, is headquartered in Amsterdam and has 25 employees. Wolters Kluwer expects the transaction to cover its cost of capital within 3 to 5 years.