Acquisition Leads to Industry’s Most Comprehensive Tax & Accounting Suite
CCH, a Wolters Kluwer business and part of the Wolters Kluwer Tax, Accounting & Legal division, on Tuesday announced the signing of an agreement to acquire the assets of ATX/Kleinrock, a supplier of tax preparation, accounting and tax research software solutions to more than 48,000 tax professionals and certified public accountants (CPAs) across the U.S.
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ATX/Kleinrock will join CCH’s portfolio of research and software solutions as a distinct product line. Upon completion of the acquisition, CCH will offer the most comprehensive suite of tax and accounting solutions in the industry.
“CCH and ATX/Kleinrock serve tax and accounting professionals in different segments of the market, but we share the same value proposition: We deliver best-of-breed integrated research and software workflow solutions that are designed to meet our customers’ special needs,” CCH President and CEO Kevin Robert said in a prepared statement. “We are pleased that, with ATX/Kleinrock as part of the CCH family, we will be able to offer professionals in small- to mid-sized firms a dedicated line of deep, expert content and advanced workflow solutions to help them build their strategic business advantage.”
The acquisition will enhance the company’s ability to meet with equal depth and breadth the special needs of firms across market segments – from solo practitioners to large firms. Following the acquisition, CCH will further build on the ATX/Kleinrock portfolio by leveraging its content and technology resources to offer customers a more complete suite of solutions meeting their special needs.
"ATX/Kleinrock and CCH have both demonstrated a strong historic commitment to excellence in providing their respective tax and accounting customers with market-leading solutions and services specifically suited to their needs,” Paul Zoukis CEO of ATX/Kleinrock said in a prepared statement. "By incorporating and tailoring CCH’s technology and rich content, the ATX/Kleinrock product line will be able to accelerate development of additional integrated software and research solutions.”
ATX/Kleinrock, headquartered in Rockville, Maryland, is owned by www.ucg.com UCG, one of the nation’s premier independent providers of business information, employs almost 300 people and has annual revenues of approximately $40 million. UCG is a portfolio of highly focused business and professional publishing companies that provide guidance, information, analysis, data and solutions to customers worldwide.
Closing of the acquisition is subject to a number of customary conditions, including satisfaction of all regulatory requirements. The parties expect the acquisition to be consummated during the next 30-60 days. Terms of the acquisition were not disclosed.