AMSTERDAM, Netherlands, Oct. 6, 2005 (PRIMEZONE) -- Wolters Kluwer Corporate & Financial Services, a division of Wolters Kluwer, and the leading provider of representation, search, and filing services to corporate legal departments and law firms, today announced the acquisition of Tripoint Systems Development Corporation, Chicago, IL.
Tripoint, an innovative software development company specializing in legal industry electronic invoicing and matter management systems, will become part of CT Corporation, a Wolters Kluwer company and the leading provider of registered agent services and integrated tools for managing corporate governance, compliance, and litigation. Terms of the agreement were not disclosed. "The acquisition of Tripoint further strengthens Wolters Kluwer's offerings of superior e-billing and matter management solutions and services tailored to the needs of corporate legal departments and positions us as the market leader in this rapidly growing segment of the legal services market," said Christopher Cartwright, Chief Executive Officer of Wolters Kluwer Corporate & Financial Services.
Tripoint combining with TyMetrix to form CT TyMetrix Tripoint, which has 43 employees, will be integrated with TyMetrix, a wholly owned subsidiary of CT Corporation, and the combined group will be called CT TyMetrix. By consolidating on a single platform, CT TyMetrix will be able to leverage the combined expertise of the two teams to more rapidly develop new features and applications targeting the corporate legal and insurance claims departments. In addition, CT TyMetrix will incorporate market-leading features of Tripoint's DirectInvoice application, including electronic data interchange and reporting modules, into the TyMetrix 360* integrated e-billing and matter management platform.
"Corporate legal and insurance claims professionals are increasingly seeking new innovations for efficient management of matters and cost containment," said Gene Landoe, President and Chief Executive Officer of Wolters Kluwer Corporate Legal Services. "CT TyMetrix will combine the organizational and product strengths of two recognized leaders to deliver a best-of-breed solution for end-to-end legal e-billing and matter management for corporate legal and insurance claims departments." "The Tripoint team is excited to join CT Corporation to form market-leading CT TyMetrix. Together, we can more quickly realize our shared vision of providing solutions to the legal community that will help the corporate legal department operate more efficiently and intelligently," said Ranji Ragbeer, Chief Executive Officer of Tripoint.
About CT Corporation
CT Corporation, a Wolters Kluwer business, pioneered the corporate legal services industry more than 100 years ago. Today, CT Corporation is leading the industry in developing a powerful suite of integrated workflow tools and services to help corporate legal departments and law firms realize meaningful efficiencies and increased effectiveness. These solutions are corporate governance, including corporate records management and SEC compliance; corporate compliance, such as business entity and UCC compliance filings; statutory representation; and litigation management, including matter management, e-billing and e-discovery. CT Corporation is based in New York City. For more information on CT Corporation, please visit www.CTAdvantage.com.
About Wolters Kluwer Corporate & Financial Services
Wolters Kluwer Corporate & Financial Services, a division of Wolters Kluwer, is the leading provider of representation, search, and filing services to corporate legal departments and law firms; and compliance and operational risk management, capital changes, and corporate actions services and solutions for financial services organizations. Major division brands include CT Corporation, Bankers Systems, and GainsKeeper(R). Wolters Kluwer Corporate & Financial Services has annual revenues (2004) of Eur 437 million and employs more than 2,700 employees.
About Wolters Kluwer
Wolters Kluwer is a leading multinational publisher and information services company. The company's core markets are spread across the health, corporate services, financial services, tax, accounting, law, regulatory and education sectors. Wolters Kluwer has annual revenues (2004) of Eur 3.3 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. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
Media Peggy Wilson Director of Corporate Communications Wolters Kluwer Corporate & Financial Services Division 320-240-5260 peggy.wilson@wolterskluwer.com Caroline Wouters Vice President, Corporate Communications 31 (0)20 60 70 459 press@wolterskluwer.com Investors/Analysts Oya Yavuz Vice President, Investor Relations 31 (0)20 60 70 407 ir@wolterskluwer.com www.wolterskluwer.com