Wolters Kluwer Signs Agreement to Acquire CGE Risk Management
Solutions
Wolters Kluwer Signs Agreement to Acquire
CGE Risk Management Solutions
January 16, 2020 – Wolters Kluwer Legal & Regulatory
announces today that it has signed an agreement to acquire CGE Risk
Management Solutions B.V. (CGE), a leading provider of risk
management software, including the industry-standard BowTieXP
solution. The acquisition will extend Wolters Kluwer’s presence in
the growing operational risk management software
market.
CGE Risk Management Solutions serves risk experts in over 2,500
leading corporations and public entities worldwide who operate in
high-risk and asset-intensive industries, including oil & gas,
energy, aviation, mining, transportation, utilities, chemicals,
manufacturing, and healthcare. CGE’s best-known product is the
industry-standard BowTieXP, a barrier-based risk management
solution for visual and qualitative risk assessment that can be
used to analyze and communicate how high-risk scenarios around
specific hazards develop. This solution allows the creation of
bowtie diagrams to visualize risks, provide an overview of multiple
plausible incident scenarios, and show what barriers organizations
have in place to control these scenarios.
CGE will become part of Wolters Kluwer’s Environmental, Health
& Safety and Operational Risk Management (EHS/ORM) software
group, which also includes Enablon and eVision. The combined
offerings will enable customers to improve their EHS, ORM, and risk
performance and to conduct more responsible, productive, and safe
operations.
CGE recorded revenues of €5 million in 2018, mainly from
software and services. Wolters Kluwer expects the acquisition to
achieve a return on invested capital (ROIC) above the group’s after
tax weighted average cost of capital (8%) within three to five
years of completion. The transaction is expected to have a positive
but immaterial impact on adjusted earnings in its first full year.
CGE was founded in 2004 and has approximately 30 employees, with
headquarters in The Netherlands. CGE has a global customer base
with the majority of customers in Europe, North America, and
Australia.
“The addition of CGE Risk Management Solutions to our Enablon
and eVision offerings will further the value Wolters Kluwer
delivers to corporations in supporting their most critical
workflows, and advances our leadership in the market,” said Stacey
Caywood, CEO, Wolters Kluwer Legal & Regulatory.
“We are very excited by the opportunity to join Wolters Kluwer,”
said Arjan Verboom, Jeroen van Dommelen and Arjan Zipp, CGE
executive leaders. “By combining forces, we can help deliver more
value to our customers as we integrate BowTieXP into Wolters
Kluwer’s broader EHS/ORM offering and create a comprehensive,
dynamic barrier-based risk management solution.”
The transaction is expected to close in the first quarter of
2020.
About Wolters KluwerWolters
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.
Wolters Kluwer reported 2018 annual revenues of €4.3 billion.
The group serves customers in over 180 countries, maintains
operations in over 40 countries, and employs approximately 18,600
people worldwide. The company is headquartered in Alphen aan den
Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and
are included in the AEX and Euronext 100 indices. Wolters Kluwer
has a sponsored Level 1 American Depositary Receipt (ADR) program.
The ADRs are traded on the over-the-counter market in the U.S.
(WTKWY).
For more information about our solutions and organization, visit
www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn,
and YouTube.
Media |
Investors/Analysts |
Annemarije
Dérogée-Pikaar |
Meg Geldens |
Corporate
Communications |
Investor
Relations |
t + 31 172 641
470 |
t + 31 172 641
407 |
annemarije.pikaar@wolterskluwer.com |
ir@wolterskluwer.com |
Elke ColpaertCommunications Enablon/eVisionWolters Kluwer Legal
& Regulatoryt +32 479 91 07
47elke.colpaert@wolterskluwer.com
Forward-looking Statements and Other Important Legal
InformationThis 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.
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