CorporateInvestorsJuly 16, 2012

Wolters Kluwer Financial Services acquires FinArch

The acquisition strengthens Wolters Kluwer Financial Services’ leading global risk and compliance position and extends its capabilities into integrated finance, risk and performance management.

Wolters Kluwer Financial Services, leading worldwide provider of comprehensive risk management, compliance and audit solutions for the financial services industry, today announced the acquisition of FinArch, a leading provider of integrated finance, risk and performance measurement solutions that enable financial institutions to manage, measure and report all financial activities.

The acquisition strengthens Wolters Kluwer Financial Services’ leading global risk and compliance position and extends its capabilities into integrated finance, risk and performance management. In doing so, the combined company can provide financial institutions with better control, insight and management of their financial data, and ultimately, a clearer enterprise view and enhanced management of their risk and performance.

Post financial crisis, institutions across the globe have recognized the need and value in the convergence of risk and finance, requiring high-quality data and integrated data management. Organizations now also face added pressure to have a better enterprise view of risk and financial management at a time when the regulatory and business environment is incredibly dynamic. To succeed, financial organizations need to integrate and more effectively control their financial data to improve efficiency, and better manage performance in the context of risk while meeting all regulatory obligations.

FinArch’s fully integrated finance, risk and performance management solution, Financial Studio, is built on a strong data architecture and brings together the tools financial institutions need to manage, measure and report all financial activities, including: accounting, risk and capital management, management information, and compliance. With general ledger and sub-ledger capabilities, Financial Studio enables customers to meet International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) while also addressing the requirements of Basel II and Basel III, RAROC, and other risk-related performance measurement ratios. By utilizing Financial Studio’s strong data architecture, this “single version of the truth” helps organizations manage a dynamic regulatory environment while reducing the cost of compliance, ultimately enabling them to be more competitive.

“By better harnessing the power of their data across all asset classes, financial organizations can more effectively manage risk and financial performance, and help ensure regulatory compliance while reducing costs and increasing operational effectiveness,” said Brian Longe, CEO of the Wolters Kluwer Financial & Compliance Services division. “Together with our risk and regulatory reporting solutions, we’ll be able to offer our customers more options and greater flexibility to meet the needs specific to their organization and the changing marketplace. We will continue to build out our global capabilities, providing regulatory reporting for 50 countries and a full suite of solutions to help better manage performance and meet the most critical risk needs financial organizations face today and into the future.”

Wolters Kluwer Financial Services supports more than 15,000 financial organizations across the globe with solutions and services to help manage their most pressing risk management, compliance and audit challenges, including: audit management; compliance program management and controls; enterprise risk management; financial crime controls; regulatory reporting; financial risk management; investment compliance; transaction origination and documentation; and regulatory intelligence and research.

“With a shared vision for providing knowledge-rich solutions to manage the complexity around financial performance and risk management, we will continue to build out our solutions, combining global scale with local capabilities, expertise and service, ultimately helping more organizations make the right business decisions in today’s evolving global environment,” said Dirk De Beule, managing director for FinArch.

The FinArch management team will join Wolters Kluwer Financial Services.

Terms of the deal were not disclosed.

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.  

Certain trademarks referenced are owned by Wolters Kluwer N.V. and its subsidiaries and may be registered in various countries.

This press release contains information which is to be made publicly available under Regulation (EU) 596/2014. 
Gerbert van Genderen Stort
Gerbert van Genderen Stort, Media Relations
Media Relations
Global Branding & Communications
Meg Geldens
Meg Geldens
Vice President, Investor Relations
Investor Relations