LicenseLogix, based in White Plains, New York, was founded in 2011 by lawyers, technology professionals and legal service industry veterans aiming to transform and streamline the businesses licensing process. While the service is charged on a transactional basis, business licenses tend to require regular renewal. The acquisition is expected to deliver a return on invested capital (ROIC) above Wolters Kluwer’s after tax weighted average cost of capital (8%) within three to five years from completion. The transaction is expected to have an immaterial impact on Wolters Kluwer adjusted earnings in the first full year.
“This is an exciting and strategic acquisition for us. As the demand for business license services increases, the acquisition of LicenseLogix cements our position as a leader in this market,” said John Weber, President and CEO of Wolters Kluwer CT Corporation. “In addition to the strategic fit, we have worked with LicenseLogix for several years and have the highest respect for David Yount and the whole LicenseLogix team.”
David Yount, CEO of LicenseLogix, commented: “Wolters Kluwer has a long and distinguished history of excellence and innovation when it comes to providing registered agent services and incorporation services. The combination with LicenseLogix now adds a new level of licensing capabilities, further strengthening CT Corporation’s U.S. legal entity compliance offering at a time when such services are vital for all industries.”