Wolters Kluwer issues news about its global professional information, software, and services business, represented in the U.S. by the WTKWY sponsored Level 1 ADR. Updates commonly cover healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG solutions.
Recurring items include trading updates by business area, annual report and AGM materials, Supervisory Board and executive changes, dividend proposals, portfolio actions, and technology investments. Company announcements also track AI-enabled offerings and platforms such as FAB, Expert AI capabilities in CCH Axcess and UpToDate, legal technology products including Legisway and Kleos, and cloud automation tools such as CodaBox, ClearFacts, Kyte, and Flowin.
Wolters Kluwer Compliance Solutions, in partnership with NYDIG, has introduced the Bitcoin Risk Assessment for financial institutions aiming to offer Bitcoin services. This tool assesses a financial institution's control environment concerning the NYDIG Bitcoin platform, ensuring compliance with federal regulatory standards. A 2021 NYDIG survey revealed that 71% of Bitcoin holders would switch banks for Bitcoin services. The collaboration aims to empower institutions with the insights needed for safe Bitcoin product offerings.
Wolters Kluwer Tax & Accounting has launched its Whole Ball of Tax (WBOT) resources for the 2022 tax filing season. The platform provides curated insights and tools for tax professionals, covering key legislative changes such as the Child Tax Credit and IRS guidance on cryptocurrencies. The Tax Season Tools & Resources hub also offers expert analysis to assist in navigating tax-related challenges. In 2021, Wolters Kluwer reported annual revenues of €4.8 billion, serving clients in over 180 countries. Its shares are traded on the OTC market in the U.S. (WTKWY).
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Wolters Kluwer's Governance, Risk & Compliance (GRC) division has announced the acquisition of International Document Services, Inc. (IDS) for approximately $70 million in cash. This strategic move enhances GRC's standing in the mortgage compliance sector, expected to contribute $15 million in revenues for 2022, driven by transaction-based pricing. The acquisition aligns with ongoing digital adoption trends and aims for a return on investment exceeding 8% within 3 to 5 years. Completion is anticipated in Q2 2022, pending customary closing conditions.
Wolters Kluwer has announced plans to acquire International Document Services, Inc. (IDS) for approximately $70 million in cash. This acquisition strengthens Wolters Kluwer's Governance, Risk & Compliance (GRC) business, enhancing its digital loan compliance and document generation capabilities. IDS serves over 450 clients and is expected to generate approximately $15 million in revenues in 2022. The deal is projected to deliver a return on invested capital above 8% within 3 to 5 years and will have a positive impact on adjusted earnings in the first full year.
Wolters Kluwer has released its 2021 Annual Report and Environmental, Social, and Governance Data Overview. This report includes the financial statements proposed for adoption at the Annual General Meeting on April 21, 2022. The agenda features a proposal for a total dividend of €1.57 per ordinary share, including a final dividend of €1.03. Additional proposals include appointing a new Supervisory Board member and re-appointing the auditor. The report highlights key 2021 achievements and outlines a new strategic initiative, Elevate our Value, focusing on cloud-based solutions.
Wolters Kluwer, Health announced a successful integration of its POC Advisor sepsis monitoring solution at Tift Regional Medical Center in Georgia. This integration into the Cerner EHR system is designed to enhance early sepsis detection, improve patient care, and minimize clinician alert fatigue. Marie Roof, Chief Information Officer at Tift, highlighted the need for timely communication of patient status changes for better compliance with sepsis care protocols. The POC Advisor promises to deliver reliable alerts, ensuring consistent evidence-based care throughout the hospital.
Wolters Kluwer ELM Solutions emphasizes the importance of contract lifecycle management (CLM) tools in reducing inefficiencies in corporate legal departments, as highlighted in their recent findings.
The report identifies over 40 friction points affecting the contracting process, which can cost organizations up to 9% of their bottom line. The CLM Matrix tool aids in mitigating risks by automating reminders and workflow adjustments. The ongoing reevaluation of contract management practices, accelerated by the COVID-19 pandemic, makes adopting these technologies more crucial than ever for corporate legal teams.
Wolters Kluwer has integrated the BioDigital Human platform into its Ovid® medical research suite, enhancing educational experiences for medical faculty and students. This immersive tool offers a 3D virtual map of the human body, improving engagement and understanding of complex anatomy. With over 8,000 selectable structures and 600 simulated conditions, the platform supports various health education programs. The integration aims to facilitate blended learning, crucially adapting to needs accelerated by the pandemic. BioDigital's content, available in eight languages, enhances the accessibility of anatomy resources for educational institutions.
Wolters Kluwer Tax & Accounting announced a presentation on agile audit practices by Shawn O’Brien and Mark Williams at the 2022 IIA General Audit Management conference on March 14. The session, titled “Agile Insights for Audit Leaders,” will focus on the implementation of an agile audit framework, covering mindset changes, best practices, and addressing the perspectives of audit leaders. Wolters Kluwer, with 2021 revenues of €4.8 billion, offers advanced audit solutions like TeamMate+ Agile Audit. The company's shares trade on Euronext Amsterdam (WKL) and the OTC market in the U.S. (WTKWY).