Wolters Kluwer Completes ATX/Kleinrock Deal

Published August 30, 2006, 11:00 p.m. EDT

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CCH, a Wolters Kluwer business, announced that its acquisition of the assets of ATX/Kleinrock has been completed.

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ATX/Kleinrock, a former division of publishing group UCG, supplies tax preparation, accounting and tax research software solutions to more than 48,000 tax professionals and CPAs in the United States. The deal is expected to help CCH penetrate a market that was not suited for its ProSystem fx Tax application

"CCH and ATX/Kleinrock have served tax and accounting professionals in different market segments, but we offer the same value proposition -- best-of-breed integrated research and software workflow solutions that meet our customers' specific needs," said CCH president and chief executive Kevin Robert, in a statement.

CCH said in a statement that it plans to build on the ATX/Kleinrock portfolio by leveraging its content and technology resources to offer customers a more complete suite of products.ATX/Kleinrock has almost 300 employees and annual revenues of approximately $40 million. Terms of the acquisition were not disclosed.

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