Wolters Kluwer Tax & Accounting today announced it has acquired the assets of BSI, a leading provider of timely international tax, legal, business and investment information. More than 60,000 users rely on BSI’s network of web sites, monitoring the latest international tax developments and updates for timely, authoritative and specific international content in countries worldwide.
The acquisition further advances Wolters Kluwer’s portfolio of premier international information supporting its continued expansion of global tax offerings in the growing corporate market. BSI will become part of CCH, a Wolters Kluwer business. As part of Wolters Kluwer Tax & Accounting, CCHoffers tax and accounting professionals in corporations around the world market-leading solutions to help them be more accurate, productive and profitable.
BSI Senior Manager Ashley Bell said BSI was among the first companies to provide global tax information over the Internet in 1999, and it was a natural fit when CCH and BSI entered into a partner relationship five years ago. BSI is already closely integrated into CCH's supply chain, and this acquisition will bring new opportunities for growth and innovative new solutions to Wolters Kluwer, CCH and BSI customers.
No impact on our investment case. Wolters continues to do add-on acquisitions in their most promising business areas. Accumulate rating and € 16 target price reiterated.