Wolters Kluwer today announced that it is exploring strategic alternatives for Corsearch, its trademark solutions business which is part of the Governance, Risk & Compliance (GRC) division. The strategic alternatives to be considered include a potential divestment of the business.
Corsearch is a recognized leader in trademark establishment and brand protection services, providing innovative solutions to trademark and brand professionals and general counsels around the world. In 2016, Corsearch had revenues of approximately €50 million. The unit has delivered compound annual organic growth in mid-single digits over the period 2014-2016 and has had a strong start to 2017, driven by its customer-centric approach and continuous development of advanced products and services.
The brand management industry is attractive, evolving from traditional trademark services to end-to-end digital brand management solutions. This evolution creates new growth and investment opportunities for Corsearch.
Wolters Kluwer Governance, Risk & Compliance is sharpening its strategic focus and prioritizing investment on compliance and risk management solutions for professionals in corporations, financial institutions, and law firms.
Wolters Kluwer has retained Evercore as financial advisor to assist in its review of strategic alternatives for Corsearch. There can be no assurance that this review will result in a transaction.
Should the outcome be a divestment of the business, Wolters Kluwer intends to mitigate the expected dilution to adjusted earnings per share through share buybacks.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, finance, risk and compliance, and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries, and employs 19,000 people worldwide.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).