Wolters Kluwer completes Prosoft transaction with Alterdata

Wolters Kluwer Tax & Accounting today announces that it has completed the previously disclosed combination of certain Prosoft assets in Brazil with those of Alterdata in exchange for a minority interest in the combined entity.On February 22, 2021, Wolters Kluwer Tax & Accounting agreed to combine certain Prosoft assets in Brazil with those of Alterdata Tecnologia em Informática Ltda, in exchange for a minority interest in the newly combined entity. In 2020, Prosoft generated revenues of €10 million and had 210 employees. On completion, we have recognized an unrealized foreign exchange loss of approximately €27 million (non-cash) related to the devaluation of the Brazilian real against the euro. The Prosoft transaction was originally announced in our 2020 Full-Year Report.