cch adds 9,300 users and $53-million revenue stream; follows august acquisition of atx/kleinrock
riverwoods, ill. (news release from cch) – cch has agreed to acquire the stock of taxwise corp. terms were not immediately disclosed.
cch said it heralds the company’s new strategy to attack the the market of small- to mid-sized tax-prep businesses.
taxwise and its subsidiary, universal tax systems, inc., headquartered in rome, ga., provide tax and accounting software solutions to more than 9,300 cpas, accounting professionals, enrolled agents and tax preparers across the u.s. taxwise has 300 full-time employees and annual revenues of approximately $53 million.
taxwise serves the small- to mid-size tax and accounting markets with tax compliance software, efiling services, bank products and training, primarily marketed under the taxwise® brand. cch says it will maintain the taxwise product offerings as a separate business line.
with the august acquisition of atx/kleinrock, a provider of tax preparation, accounting and tax research software solutions, cch announced its commitment to serve the small- to mid-size markets with an expanded suite of solutions. the plan to acquire taxwise further demonstrates cch’s commitment to serve these professionals with an even wider range of products and services designed for their specific requirements.
“cch has long been a leader in the tax and accounting market and taxwise customers will be well served by cch as it focuses on providing a full suite of market-leading solutions for professionals in the small- and mid-size market,” said bill anderson, taxwise ceo.
cch already fields market-leading products such as are the prosystem fx office, cch tax research network, accounting research manager and the u.s. master tax guide.
cch is owned by wolters kluwer, a multinational publisher and information services company serving the health, corporate services, finance, tax, accounting, law, regulatory and education sectors. wolters kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across europe, north america and asia pacific. wolters kluwer is headquartered in amsterdam, the netherlands.