Wolters Kluwer Legal & Regulatory today announces that it has received a binding offer from ATC, a private B2B media company in France, to purchase Legal & Regulatory’s French trade media assets. Wolters Kluwer’s intended divestment is in line with the division’s strategy to focus on legal information and software solutions for law firms, corporate counsel, and other compliance professionals.
“We are pleased that we have received a binding offer from ATC. The company is well-positioned in France to support these products and activities and serve the needs of customers,” said Stacey Caywood, CEO, Wolters Kluwer Legal & Regulatory.
The French trade media unit, a part of the division’s business in France, includes publishing and events serving the transport, tourism, HR, and social work verticals. The unit had revenues of €22 million in 2015 and approximately 170 full-time employees.
Upon receipt of the offer, Wolters Kluwer in France has granted to ATC an exclusive period of discussions, during which local staff representatives will be consulted following the French legal process.