Wolters Kluwer acquires software and Internet publisher KnowledgePoint

KnowledgePoint, established in 1987, is the established market leader in human resources management software, including customizable products that combine productivity tools with expert information. Among its most well known Internet and software products are Performance Impact, the company's popular performance management system; Performance Now for writing comprehensive employee performance appraisals; Descriptions Now which helps managers develop job descriptions that comply with employment laws; Policies Now which supports the development of company policies and employee handbooks-, and People Manager, an HR information system.

 

In addition, KnowledgePoint operates HRTools.com (www.hrtools.com), a virtual HR department on the Web that presents an extensive selection of subscription-based and free HR applications and information for institutional buyers. It reached more than 30,000 registered users in 1999 (1998: 12,700) and expects more than double this number by the end of the year. Growth of sales from HRTools.com is expected to accelerate through incremental e-commerce revenue streams of related products and services from CCH and other Wolters Kluwer products.

'KnowledgePoint will allow CCH to expand its existing presence in the human resources market, providing current and new customers with an extended range of software, customized tools and information,' said
Rebecca K. Hensley, president and CEO, CCH. 'Most important, CCH can pursue further an integrated system of content, software applications and customized HR management systems delivered over corporate intranets. Acquiring KnowledgePoint propels CCH into a firm position as a business-to-business internet portal with high sales growth potential.'

 

KnowledgePoint year 2000 revenues are projected at approximately USD 9.1 million. The company employs approximately 65 people.