Wolters Kluwer announced today that it has reached an agreement on principles with Schouten & Nelissen on the sale of ISBW Opleiding & training. Financial details of the deal will not be disclosed. The transaction is expected to be completed in the second quarter of 2003.
ISBW Opleiding & Training is a well-established Dutch institute for professional training for managers. ISBW, located in Houten, the Netherlands, has yearly revenues (2002) of approximately EUR 16 million and employs 90 people.
The sale of ISBW is the outcome of the strategy of Wolters Kluwer to focus on its core activities: Legal, Tax & Business, Health and Education. As previously announced, the professional training activities no longer fit into this strategy. With the sale of ISBW, the divestment of the professional training division, which included among others Krauthammer and ROVC (the Netherlands) as well as The Financial Training Company (UK), will be completed.
The Schouten & Nelissen Groep has been an independent and highly recognized institute for more than twenty years. Schouten & Nelissen focuses on the development of people and organizations, with training, education, coaching, guidance, implementation and counseling. The Schouten & Nelissen Groep, located in Zaltbommel (The Netherlands), employs more than 600 people.
The Schouten & Nelissen Groep realizes with the acquisition of ISBW its fullservice strategy and is it able to offer an even stronger contribution to the scope of development of active employees and organizations. Portfolio, vision and culture of the two companies are a perfect match.
Employees, their representative bodies, and unions have been informed and consultation procedures will commence shortly.
Note for the editor
Wolters Kluwer is a multinational information services company with annual revenues (2002) of more than EUR 3.9 billion, employing almost 20,000 people in Europe, North America, and Asia Pacific. The company's core activities are Legal, Tax & Business, Health and Education. Wolters Kluwer's shares are quoted on the Euronext Amsterdam and are included in the AEX and Euronext 100 indices. The Annual General Meeting of Shareholders will take place on April 16, 2003.
Announcements financial results: Trading update 1st quarter: May 14, 2003 Figures first-half 2003: August 12, 2003 Trading update 3rd quarter November 12, 2003