Wolters Kluwer Tax & Accounting has acquired Twinfield, a Dutch provider of online accounting software, expanding its presence in the European market.
Twinfield serves professionals in Scandinavia and the United Kingdom with its Software-as-a-Service accounting system. Through the acquisition, Wolters Kluwer will expand its existing offerings for accountants and finance professionals in small and midsized enterprises in Western Europe. Twinfield will become part of the European activities of Wolters Kluwer Tax & Accounting.
With more than 80,000 implementations managed online via Twinfield’s software, the acquisition further advances Wolters Kluwer Tax & Accounting’s strategy to expand its software offerings for accountants and small and midsized enterprises in Europe. It also responds to the growing demand for Web-based applications, enabling Wolters Kluwer to further build its SaaS business model to meet customer demand.
Terms of the acquisition were not 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.
