Wolters Kluwer acquires newsletter unit of Harcourt Inc. for $25 million.All of the professional tax, accounting and related products of Harcourt Inc.'s Professional Publishing unit (HPP HPP hyperkalemic periodic paralysis. ), in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , including its 17 newsletters, have been sold to Wolters Kluwer Wolters Kluwer N.V. (Euronext: WKL) is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. for a reported $25 million. HPP had revenues of $10 million in 1999. Besides the newsletters, the sale included the flagship line Miller's Accounting Guides in print and electronic format and a companion CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment online testing service for accountants, as well as a diverse line of titles and software for finance officers and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against professionals. The agreement with Harcourt brings to more than 55 tax, finance, accounting and auditing texts and newsletters published by Aspen Publishers, Gaithersburg, Maryland, a member of Wolters Kluwer Legal, Tax & Business North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . It's reported that HPP staff are offered an incentive bonus that would kick in if they remain in their position for 90 days. It's also reported that Wolters Kluwer will move the operation out of its San Diego location. Wolters Kluwer stated that the acquisition "allows Aspen to expand further its professional publishing business to the tax and accounting market, adding valuable complementary products to its current line of pension, estate and financial planning products" and to add to its internet offerings for business professionals. Also sells interest in MD Consult In a separate transaction, Wolters Kluwer has sold to Harcourt its one-third interest in MD Consult, St. Louis, a web-based information service for physicians. As part of the agreement Ovid Technologies Ovid Technologies (or just Ovid) is part of the Wolters Kluwer group of companies. It provides access to online bibliographic databases, journals and other products, chiefly in the area of health sciences. of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of will gain electronic access to key clinical and healthcare publications and information published by Harcourt. Ovid Technologies is part of Wolters Kluwer International Health & Science, a provider of subscription-based electronic information services See Information Systems. to the medical and science markets. Wolters Kluwer is a multinational information services company with annual sales of nearly $3 billion employing 18,000 people in 26 countries. The investment banking firm Eugene Simonoff & Associates Inc. represented Wolters Kluwer in the transaction. Following are the newsletters HPP sold to Wolters Kluwer: * Accountant's Tax Weekly, strategies for saving on taxes, $251/year. * CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. Administrator's & Manager's Report, news and information covering all areas of firm administration and management, 12x, $267. * CPA Construction Niche Builder, tips for gaining new engagements, industry-specific accounting and auditing information, 12x, $237. * CPA Government & Nonprofit Report, strategic advice on governmental and nonprofit accounting, 12x, $257. * CPA Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Service Counselor, techniques to maximize profits in litigation support engagements, 12x, $237. * CPA Technology & Internet Advisor, strategies and solutions for managing today's rapidly changing technology, 12x, $237. * Executive's Tax & Management Report, how to get more taxfree cash from your company, slash the company tax bill, boost personal deductions and cope with new crackdowns, weekly, $219. * Family Business Professional, advice for family-owned businesses on how to grow, thrive and plan for the future, 12x, $275. * Financial Advisor Pro, market-savvy strategies for the financial advisor, 12x, $153. * Health Niche Advisor, techniques for practice management, niche-building strategies, and the latest accounting, auditing and tax developments, 12x, $375. * Insider's Offshore Advisor, techniques for maximizing profit while minimizing tax consequences for international investment portfolios, 12x, $375. * Nonprofit Tax & Financial Strategies, tax law changes and rulings, how to avoid crackdowns and take advantage of new opportunities, 24x, $207. * Partner-to-Partner Advisory, CPA's source for firm leadership and profitability, 12x, $219. * Small Corporation Update, solutions to business and financial issues faced when operating a corporation, 12x, $147. * Tax Return Preparer's Letter, new tax developments from Washington, help with new tax forms and procedures, 24x, $152. * Tax Update for Business Owners, recent laws, trends and loopholes from Washington, summaries of relevant IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. rulings, 12x, $147. * Executive Compensation Reports, information on compensation paid to executives, 6x, $525. |
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