Wolters Kluwer has acquired Vanguard Software
– Wolters Kluwer Tax & Accounting
announces today that it has signed
and completed an agreement to
a global provider
integrated business planning
for approximately $110
million in cash.
The acquisition offers
to extend the
performance management platform
into sales and
including supply chain
planning and predictive
Vanguard Software serves companies of all sizes across every
major industry in more than 60 countries, helping them to improve
forecasting, reduce overstocks, optimize inventory distribution,
and reduce supply chain costs. Vanguard Predictive Planning
solutions use artificial intelligence, algorithmic modeling,
process automation, and a collaboration hub to enable companies to
optimize and automate end-to-end supply chain planning. In 2021,
the Vanguard Predictive Planning™ platform was ranked as a leader
in Supply Chain Planning by Nucleus Research and received an
honorable mention from Gartner.
Vanguard Software revenues derive from subscription-based cloud
software (averaging approximately 55% of total revenues in recent
years) and software-related professional implementation and
consulting services. The company recorded total revenues of $7.2
million in 2020 (un-audited). While the COVID-19 pandemic caused a
contraction in services last year, recurring cloud software
revenues grew 33% organically in 2020. A majority of revenue is
from North America. We expect the acquisition to achieve a return
on invested capital above our after-tax weighted average cost of
capital of 8% within 3 to 5 years. The impact on Wolters Kluwer
adjusted net profit is immaterial. Founded in 1995, Vanguard
Software is headquartered in Cary, North Carolina, and has
approximately 40 employees.
“Extending the CCH Tagetik corporate performance management
solutions with Vanguard’s expertise in sales and operations
planning including supply chain management and predictive analytics
is a natural next move for us. The responsibilities of the Office
of the CFO increasingly include sales and operational planning and
the ability to leverage real-time insights for complex decision
making. The combination of Vanguard Software and CCH Tagetik
solutions allows us to support our enterprise customers as they
seek to implement integrated planning environments”, said Karen
Abramson, CEO of Wolters Kluwer Tax & Accounting.
“We are excited that Vanguard is now a part of Wolters Kluwer,”
said Rob Suggs, CEO of Vanguard who will shift into a consulting
role to support the integration. “Wolters Kluwer and Vanguard share
a customer-focused approach in providing innovative,
cloud-based solutions that enable organizations to be more
accurate, efficient, and productive in how they plan and forecast
across key areas of operations. ”
About Wolters KluwerWolters
Kluwer (WKL) is a global leader in professional information,
software solutions, and services for the healthcare; tax and
accounting; governance, risk and compliance; and legal and
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 2020 annual revenues of €4.6 billion.
The group serves customers in over 180 countries, maintains
operations in over 40 countries, and employs approximately 19,200
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.
For more information, visit www.wolterskluwer.com, follow us on
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Investors/AnalystsGerbert van Genderen Stort
Investor Relationst + 31 (0)172 641 230
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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.
Elements of this press release contain or may contain inside
information about Wolters Kluwer within the meaning of Article 7(1)
of the Market Abuse Regulation (596/2014/EU).
- 2021.05.14 Wolters Kluwer has Acquired Vanguard Software
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