Wolters Kluwer completes TaxWise acquisition

CCH, a Wolters Kluwer business and part of the Wolters Kluwer Tax, Accounting & Legal division, has announced that it has completed the acquisition of the stock of TaxWise Corporation. TaxWise and its subsidiary, Universal Tax Systems, Inc. (UTS), headquartered in Rome, Ga., provide tax and accounting software solutions to more than 9,300 CPAs, accounting professionals, enrolled agents and tax preparers across the U.S. CCH is a leading provider of tax and accounting law information, software and services (CCHGroup.com).

The acquisition will enhance CCH’s ability to meet a wider range of professionals’ needs across market segments and will further advance CCH as the professional’s first choice for premier tax and accounting solutions.

TaxWise serves the small- to mid-size tax and accounting markets with tax compliance software, efiling services, bank products and training, primarily marketed under the TaxWise brand. CCH will maintain the TaxWise product offerings as a separate business line.

“This acquisition represents a significant opportunity for CCH to further grow its small- and mid-market position and to have the opportunity to serve as a strategic partner to an even broader range of professionals,” said Kevin Robert, CCH President and CEO.

“We’re very excited to have TaxWise products joining CCH’s portfolio of market-leading research and software solutions and look forward to continuing to serve our customers’ special needs as part of CCH,” said Bill Anderson, TaxWise President.

TaxWise has 300 full-time employees and annual revenues of approximately $53 million. Plans to acquire the stock of TaxWise were announced on September 4, 2006.