Brazil’s tech community has started off the week with some big news in the realm of acquisitions. Dutch entity Wolters Kluwer has acquired Prosoft Tecnologia, a provider of tax and accounting software based in São Paulo.
Established in 1985, Prosoft is a leader in tax and accounting solutions in Brazil, responding to the country’s highly-complex tax system. It provides a fully-integrated suite for managing taxes, accounts, payroll and related documentation as well as software solutions for filing.
Prosoft’s products are currently used by more than 150,000 professionals throughout Brazil. The company serves all 27 Brazilian states and employs over 250 individuals.
Dedicated to global information services and publishing, Wolters Kluwer is based in is based in lphen aan den Rijn, the Netherlands. It provides solutions in a various sectors, including health, finance, law, regulations and, of course, taxes and accounting.
The Prosoft acquisition comes as part of Wolters Kluwer’s efforts to expand its global position in tax and accounting software in fast-growing geographies.
Kevin Robert, CEO of Wolters Kluwer Tax & Accounting (which is headquartered in Riverwoods, Illinois), remarked:
Prosoft allows us to rapidly establish a significant presence in Brazil while at the same time also advancing our move into cloud-based collaborative solutions.
Carlos Meni, CEO of Prosoft, affirmed:
We are very pleased to become part of Wolters Kluwer. The combination will allow Prosoft to remain focused on our customers, who are professionals in the fields of tax, accounting, and business. At the same time, with Wolters Kluwer’s global reach and expertise in this field, we will be able to strengthen and build on our offerings to deliver even greater value.
Meni, along with the rest of Prosoft’s management team, will remain with the company following its acquisition. The terms of the acquisition deal, including the financial details, have not been revealed.