Wolters Kluwer acquires FinArch

Wolters Kluwer acquires FinArch

US tech firm Wolters Kluwer is extending its interest in the financial risk and reporting arena with the acquisition of Belgium's FinArch.

Fifteen-year old FinArch will be joining Wolters Kluwer's FRSGlobal and Arc Logics risk and compliance units, extending the firm's capabilities into integrated finance, risk and performance management.

FinArch's Financial Studio suite enables customers to meet International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) while also addressing the requirements of Basel II and Basel III, RAROC, and other risk-related performance measurement ratios.

Brian Longe, CEO of the Wolters Kluwer financial & compliance services division, comments: "Together with our risk and regulatory reporting solutions, we'll be able to offer our customers more options and greater flexibility to meet the needs specific to their organisation and the changing marketplace. We will continue to build out our global capabilities, providing regulatory reporting for 50 countries and a full suite of solutions to help better manage performance and meet the most critical risk needs financial organizations face today and into the future."

The FinArch management team will join Wolters Kluwer Financial Services.

Terms of the deal were not disclosed.

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