Wolters Kluwer sells finance unit to Regnology for €450 million
Investing.com -- Wolters Kluwer (AS:WLSNc) has agreed to sell its finance, risk and regulatory reporting unit to software provider Regnology Group for €450 million ($523.2 million), including debt, as the information-services company shifts focus to its U.S. operations.
The Amsterdam-listed company announced Monday that the transaction would enable its financial and corporate compliance division to concentrate on expanding its existing positions in U.S. banking compliance and corporate legal and compliance services.
Wolters Kluwer expects to record a capital gain when the deal is completed.
The company said the use of net after-tax proceeds from the divestment will be determined after the transaction closes, and the entities being sold will continue to be consolidated with financial and corporate compliance until completion.
The finance, risk and regulatory reporting unit generated revenue of €123 million in 2024.
The deal requires regulatory approval and employee consultations, with completion expected in the fall of 2025.
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