Source: Wolters Kluwer
Wolters Kluwer Governance, Risk & Compliance (GRC), the financial technology and legal technology solutions firm, has acquired LicenseLogix LLC, a provider of U.S. business licensing services.
LicenseLogix is a premier provider of comprehensive business license services, including research, filing and ongoing compliance management. The company has been a strategic partner of GRC’s CT Corporation for over five years and today serves more than 800 corporate customers of all sizes and across all industries. CT Corporation is a leading U.S. provider of registered agent services, incorporation services, and legal entity compliance. LicenseLogix services are highly complementary to those of CT Corporation and will form an integral component of CT’s end-to-end legal entity compliance and managed services offerings.
LicenseLogix, based in White Plains, New York, was founded in 2011 by lawyers, technology professionals and legal service industry veterans aiming to transform and streamline the businesses licensing process. While the service is charged on a transactional basis, business licenses tend to require regular renewal. The acquisition is expected to deliver a return on invested capital (ROIC) above Wolters Kluwer’s after tax weighted average cost of capital (8%) within three to five years from completion. The transaction is expected to have an immaterial impact on Wolters Kluwer adjusted earnings in the first full year.
“This is an exciting and strategic acquisition for us. As the demand for business license services increases, the acquisition of LicenseLogix cements our position as a leader in this market,” said John Weber, President and CEO of Wolters Kluwer CT Corporation. “In addition to the strategic fit, we have worked with LicenseLogix for several years and have the highest respect for David Yount and the whole LicenseLogix team.”
David Yount, CEO of LicenseLogix, commented: “Wolters Kluwer has a long and distinguished history of excellence and innovation when it comes to providing registered agent services and incorporation services. The combination with LicenseLogix now adds a new level of licensing capabilities, further strengthening CT Corporation’s U.S. legal entity compliance offering at a time when such services are vital for all industries.”
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,200 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).