The French and Spanish legal information units to be sold by Wolters Kluwer employ approximately 650 FTEs. In 2020, the units generated approximately €85 million (about 9% of Legal & Regulatory division revenues) and were profitable. The units primarily support law firms, corporations and the public sector with information products in digital and print formats. In France, the business includes Lamyline for legal professionals and Liaisons Sociales for labor law and HR specialists, among other offerings including training. In Spain, the business includes La Ley for legal professionals, CISS for tax and HR specialists, as well as online training services.
Wolters Kluwer Legal & Regulatory will continue to serve its customers in France and Spain with legal and compliance software solutions (mainly Kleos and Legisway), environmental, health & safety and operational risk management solutions (Enablon), and international legal information (Kluwer Law International). Wolters Kluwer also continues to provide the French and Spanish market with solutions for health, tax and accounting, and governance, risk and compliance professionals.
Martin O’Malley, Executive Vice President and Managing Director of Wolters Kluwer Legal & Regulatory said: “As we continue to invest in our transformation from print to digital and from digital into expert solutions and software, Wolters Kluwer Legal & Regulatory is concentrating its investments on the businesses where we have the best prospects for long-term growth. The businesses to be divested are well-prepared for the digital future as part of Karnov with high-quality products and shared technology infrastructure. We are confident that Karnov will continue to support the French and Spanish legal information community with excellence.”
“For Karnov, this intended transaction is an attractive opportunity to acquire two highly reputable businesses in which Wolters Kluwer has invested to achieve a digital transformation,” said Pontus Bodelsson, CEO of Karnov Group. “We plan to continue to invest and to leverage new technologies in order to serve customers with the high-quality products and services they value.”
Karnov Group (Nasdaq Stockholm: KAR), based primarily in Denmark and Sweden, is a provider of legal information solutions in the areas of legal, tax, accounting, and environmental, health and safety. In recent years, Karnov has expanded its geographic presence into France and Belgium, and currently employs approximately 290 people.