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WK Buying Cloud Tools

 

Wolters Kluwer Tax & Accounting plans to spend about $352 million to buy a series of cloud-based financial workflow and data exchange tools from Belgian company, the Isabel Group.

These tools—CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin—are designed to enable safe transfer bank statements, invoices, and other relevant data. The capabilities address the e-invoicing compliance of account firms and clients in Europe.

According to the company’s prepared statement, “This portfolio complements Wolters Kluwer’s existing European tax and accounting solutions and enables it to provide end-to-end coverage of the accountants’ workflow from pre-accounting to post-accounting.”

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