Wolters Kluwer Tax & Accounting acquires Twinfield

Jun 15

Wolters Kluwer Tax and accounting yesterday issued a press release announcing they have acquired the dutch provider of SAAS accounting Twinfield. Twinfield has 80,000 clients and is one of Europeans largest online accounting solutions.

Riverwoods, IL. (June 14, 2011) – Wolters Kluwer Tax & Accounting today announced the
acquisition of Twinfield, a Dutch-based pioneer and market leader in online accounting software,
serving professionals in the Netherlands, UK and Scandinavia. Through this acquisition, Wolters
Kluwer expands and complements its existing offering of advanced software solutions for
accountants and finance professionals in SMEs in all the western European markets it serves.
Twinfield will become part of the European activities of Wolters Kluwer Tax & Accounting, the
global market leader in tax, accounting and audit solutions and services.
With more than 80,000 administrations managed online via Twinfield software, it is an undisputed
leader in online, SaaS-based collaborative accounting solutions in Europe. The acquisition further
advances Wolters Kluwer Tax & Accounting’s strategy to expand its offering of software solutions that
contribute to the productivity of accountants and SMEs in Europe. It also responds to the growing
demand for ‘Software as a Service’ (SaaS), applications, enabling Wolters Kluwer to further build out its
SaaS business model to meet customer demand.
“Through continuous investment and innovation, Wolters Kluwer has advanced its position as the
European market leader in information and software solutions for finance professionals and SMEs,” says
Henri Van Engelen, Managing Director of Wolters Kluwer Tax & Accounting Europe. “This acquisition
strategically expands our offering of state-of-the-art accounting software solutions. It also uniquely
positions us as the only provider today capable of offering both information and software solutions to
accountants and SMEs in the Dutch market.”
“We are very pleased to be joining Wolters Kluwer. This acquisition allows Twinfield to remain focused
on our core competency: offering accountants and finance professionals in SMEs the best online
accounting solution. At the same time, with Wolters Kluwer’s global reach and commitment, we can
further strengthen and expand the Twinfield product offerings and SaaS delivery,” said André
Kwakernaat, founder of Twinfield.
Terms of the acquisition are not being disclosed. Twinfield was founded in 2000. The company’s head
office is in the Netherlands and it has two branches in the United Kingdom and the Ukraine. Twinfield
has 75 employees

Full press release here
http://hugin.info/130682/R/1523108/459178.pdf

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