Document Management

Wolters Kluwer has reached an agreement to acquire Tagetik for about $317 million in cash. When the deal is complete, Wolters Kluwer will bring Tagetik together with its corporate products, including TeamMate, in a new unit, Corporate Performance Solutions.

Based in Lucca, Italy, and Stamford, Conn., Tagetik had about $60 million in cash in 2016, with the majority of revenue from Europe. Its important markets after that are North America and Asia Pacific. Its target customers are midsize and large corporations.

Ian Rhind, president of Wolters Kluwer Audit, Risk & Compliance, will lead the new unit. Tagetiks leaders, Marco Pierallini and Manuel Vellutini, will join the executive team.

• Prev
• Next