Wolters Kluwer to acquire IDS
Wolters Kluwer to
2022 — Wolters Kluwer
Governance, Risk & Compliance (GRC) has signed
an agreement with The Reynolds and Reynolds
Company to acquire International
Document Services, Inc. (IDS), a leading
U.S. provider of
compliance and document
generation software solutions for
the mortgage and real estate
$70 million in
IDS will become an integral part of GRC’s Compliance Solutions
business, a leading provider of compliance software for U.S. banks,
lenders, credit unions, insurers, and securities firms. The
acquisition builds on GRC’s existing leadership in digital loan
compliance, with end-to-end capabilities spanning from document
generation to eClosing, loan analytics and lien solutions.
IDS serves over 450 clients, including U.S. mortgage lenders,
banks and law firms. The company’s services include initial
disclosures, electronic signatures, closing documents, and document
fulfillment. The IDS flagship document preparation solution,
idsDoc, is a cloud-based platform that is recognized across the
industry for its superior capabilities, customer service, and
integrations with many of the leading loan origination systems and
IDS, founded in 1986 and based in Draper, Utah, employs
approximately 75 professionals. The company is expected to generate
revenues of approximately $15 million in 2022. Revenues are based
on transactional pricing linked to mortgage volumes. The
acquisition is expected to deliver a return on invested capital
(ROIC) above Wolters Kluwer’s after tax weighted average cost of
capital (8%) within 3 to 5 years from completion. The acquisition
is expected to have a positive but immaterial impact on Wolters
Kluwer adjusted earnings in the first full year. Completion of the
transaction is subject to customary closing conditions and is
expected in the second quarter of 2022.
“IDS is well-positioned to take advantage of continuing digital
adoption trends and has a strong track record of innovation in the
mortgage industry,” said Steven Meirink, Executive Vice President
and General Manager, Compliance Solutions, Wolters Kluwer GRC.
“This strategic and exciting acquisition will further solidify
Wolters Kluwer’s market leadership in expert solutions for loan
compliance and, alongside our eOriginal product suite, positions us
as the leading provider of digital lending solutions.”
“Wolters Kluwer has a long and distinguished history of
excellence and innovation, and we are truly excited to join this
leading business,” commented Mark Mackey, General Manager of IDS.
“This is the perfect combination that will bring the next level of
capabilities to our clients and the lending market.”
About Wolters KluwerWolters Kluwer (WKL) is a
global leader in professional information, software solutions, and
services for the healthcare; tax and accounting; governance, risk
and compliance; and legal and regulatory 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 2021 annual revenues of €4.8 billion.
The group serves customers in over 180 countries, maintains
operations in over 40 countries, and employs approximately 19,800
people worldwide. The company is headquartered in Alphen aan den
Rijn, the Netherlands.
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 (ADR) program.
The ADRs are traded on the over-the-counter market in the U.S.
For more information, visit www.wolterskluwer.com, follow
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Wolters Kluwer cautions that such forward-looking statements are
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