Wolters Kluwer announced that it has acquired eVision Industry Software BV. A global provider of industrial operational risk management software, for US$145 million, excluding deferred contingent consideration.
eVision is a world leader in industrial operational risk management for the oil and gas, chemical, pharmaceutical and other high-risk, high-precision industries. Its modular solution allows customers to improve control of their operational processes, reducing risks, increasing safety and efficient management.
eVision’s software and services are highly complementary to Wolters Kluwer’s Enablon platform and its Environmental, Health and Safety (EHS) and Operational Risk Management (ORM) solutions. Both solutions are rated as leaders by the independent research firm Verdantix.
eVision’s platform, ‘One Vision’, is a configurable, mobility-ready enterprise solution covering work control, environmental, health and safety (EHS) and process safety management. The modules include, among others, work permits, shift changes, barrier management, process analysis and work safety, and risk assessments.
The platform integrates with leading ERP systems and other leading operating software, and is available for on-premise servers and cloud storage.
Founded in 2008, eVision has 225 employees and offices in the Netherlands (headquarters), the United Kingdom, Qatar and the United States.
It recorded revenues of US$25 million in 2017 and is expected to achieve double-digit revenue growth in 2018. While eVision’s on-premise software remains in strong demand, future growth is expected to be driven primarily by recurring revenue from the company’s cloud-based offerings.
An initial consideration of US$145 million was paid upon completion of the acquisition, however, up to US$35 million in additional consideration could be paid in the future, depending on the achievement of certain financial and strategic targets.
With the acquisition, Wolters Kluwer expects to generate a return on invested capital in excess of the weighted average cost of capital of (8%) within 3 to 5 years.
“We are very excited to continue our journey with Wolters Kluwer as we scale our innovation and solutions across the global operating market,” said Peter Kortenhorst, CEO of eVision.
About Wolters Kluwer
Wolters Kluwer is a global leader in information, software solutions and services for professionals in the healthcare, tax and accounting, finance, risk and compliance, and legal sectors. They help their clients make critical decisions every day by providing expert solutions that combine deep knowledge with specialized technology and services.
In 2017 Wolters Kluwer reported annual revenues of €4.4 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in more than 180 countries, maintains operations in more than 40 countries and employs 19,000 people worldwide.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has sponsored a Level 1 Certificate of Deposit program in the United States. ADRs are traded on the U.S. over-the-counter market (WTKWY).
“The acquisition of eVision solidifies Wolters Kluwer as a leader in environmental, health and safety and industrial operational risk management software, and expands the value we offer companies and our role in supporting their most critical workflows,” said Stacey Caywood, CEO of Wolters Kluwer’s Legal & Regulatory division.
For more information on forward-looking statements and other important legal information regarding this information, please visit: https://wolterskluwer.com/company/newsroom/news/2018/10/wolters-kluwer-acquires-evision.html.