|Weekly News Digest
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Wolters Kluwer Details Benefits of New Acquisition
Wolters Kluwer has been promoting its new product benefits since its acquisition of Effacts, a Netherlands-based legal management software provider. For example, the company notes that customers can take control of corporate and legal risks, increase efficiencies and save money, and better manage their legal departments and meet company goals. Effacts houses legal information such as contracts and compliance information to help companies control their obligations and rights, and its easy-to-navigate dashboard allows quick access to key information. Corporate counsels can use the platform to view and analyze work distribution within the legal department and optimize the use of human resources. Different departments can use it to collaborate with each other or with external legal service providers.
Effacts is geared to small and medium enterprise legal departments, filling a coverage gap for Wolters Kluwer in middle-market companies that need sophisticated solutions to improve their workflow. By joining with Wolters Kluwer, Effacts will be able to extend the reach of and enhance its products. Wolters Kluwer expects that the acquisition will cover its cost of capital within 3–5 years.
For more information, read the press release.
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