InvestorsCorporateJune 14, 2011

Wolters Kluwer Tax & Accounting expands European online software solutions with acquisition of Twinfield

SaaS-based solutions advance software offerings.

Wolters Kluwer Tax & Accounting today announced the acquisition of Twinfield, a Dutch-based pioneer and market leader in online accounting software, serving professionals in the Netherlands, UK and Scandinavia. Through this acquisition, Wolters Kluwer expands and complements its existing offering of advanced software solutions for accountants and finance professionals in SMEs in all the western European markets it serves. Twinfield will become part of the European activities of Wolters Kluwer Tax & Accounting, the global market leader in tax, accounting and audit solutions and services.

With more than 80,000 administrations managed online via Twinfield software, it is an undisputed leader in online, SaaS-based collaborative accounting solutions in Europe. The acquisition further advances Wolters Kluwer Tax & Accounting’s strategy to expand its offering of software solutions that contribute to the productivity of accountants and SMEs in Europe. It also responds to the growing demand for ‘Software as a Service’ (SaaS), applications, enabling Wolters Kluwer to further build out its SaaS business model to meet customer demand.

Through continuous investment and innovation, Wolters Kluwer has advanced its position as the European market leader in information and software solutions for finance professionals and SMEs,” says Henri Van Engelen, Managing Director of Wolters Kluwer Tax & Accounting Europe. “This acquisition strategically expands our offering of state-of-the-art accounting software solutions. It also uniquely positions us as the only provider today capable of offering both information and software solutions to accountants and SMEs in the Dutch market.”

"We are very pleased to be joining Wolters Kluwer. This acquisition allows Twinfield to remain focused on our core competency: offering accountants and finance professionals in SMEs the best online accounting solution. At the same time, with Wolters Kluwer’s global reach and commitment, we can further strengthen and expand the Twinfield product offerings and SaaS delivery,” said André Kwakernaat, founder of Twinfield.

Terms of the acquisition are not being disclosed. Twinfield was founded in 2000. The company’s head office is in the Netherlands and it has two branches in the United Kingdom and the Ukraine. Twinfield has 75 employees.

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.

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