Wolters Kluwer Tax and Accounting, which makes tax and accounting software, has acquired Adsolut, a Belgium-based company that does the same. The purchase is aimed at expanding Wolters Kluwer’s position in the Belgian market. Terms of the deal were not disclosed.

Adsolut was founded in 2007, and today has 24 employees. The company offers an integrated, modular software suite designed to enable online collaboration between accountants and their small and midsized enterprise clients. The solution supports a range of functions from bookkeeping and accounting to practice management, enterprise resource planning, reporting and analytics.

Wolters Kluwer expects the transaction to have a positive but immaterial impact on adjusted earnings per share while generating a return on investment above its cost of capital within three to five years.

“The acquisition further strengthens our existing offering in Belgium, adding cloud functionalities and mobile solutions,” said Ronny De Goedt, managing director of Wolters Kluwer Tax and Accounting, Belgium. “Together with the Adsolut team, we will continue to innovate to address evolving customer needs and to develop applications that enable easy and efficient collaboration between tax advisors and SMEs.”

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