Wolters Kluwer to sell its German tax software subsidiary for €40 million
The Dutch professional information group has found a buyer for its consumer tax business in Germany: Buhl Data Service GmbH, according to the announcement made on October 30, 2026 in Alphen aan den Rijn.
The transaction is part of a refocusing of the Tax & Accounting division on professional clients, and its completion is expected within the coming days.
An agreement to sell a German subsidiary for €40 million
On October 30, 2026, Wolters Kluwer signed an agreement to sell its subsidiary Wolters Kluwer Steuertipps GmbH (Steuertipps) to Buhl Data Service GmbH. The transaction price amounts to €40 million.
This amount should be distinguished from the target's business activity: Steuertipps is expected to generate gross revenue of approximately €30 million in 2026, a figure presented by the group as unaudited.
A refocusing of Tax & Accounting on professional markets
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According to Wolters Kluwer, this divestment allows its Tax & Accounting division to concentrate its strategy more on professional markets. It is in these markets that the group says it identifies the best prospects for synergies, sustainable long-term growth and profitability.
The divested business, by contrast, serves individuals, a segment described in the press release as the consumer tax market in Germany.
A modest business relative to a group with €6.1 billion in revenue
The approximately €30 million in gross revenue expected from Steuertipps in 2026 should be compared with the €6.1 billion in annual revenue reported by Wolters Kluwer for fiscal year 2025. The group employs around 21,100 people and serves clients in more than 180 countries.
At this stage, the agreement has been signed but the transaction has not yet been completed: the group indicates that it should be finalized within the coming days. Its forward-looking statements are subject to risks, among which the press release cites those related to mergers, acquisitions and divestments.
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 3 033 millions d'euros
Quarterly revenue: 3 033 millions d'euros
Revenue growth: -0,6 %
EBITDA: 1 043 millions d'euros
EBITDA margin: 34,4 %
Net income: 580 millions d'euros
Free cash flow: 533 millions d'euros
4 024 millions d'euros
Guidance from the release
We continue to expect another year of good organic growth, a margin increase, and high single-digit growth in diluted adjusted EPS in constant currencies.
Risks mentioned
Dépréciation du dollar américain face à l'euro pesant sur le chiffre d'affaires publié (-1 % en devises courantes)
Baisse des revenus non récurrents (-3 % organiquement), notamment du print (-19 %)
Volatilité transactionnelle possible dans Financial & Corporate Compliance liée à l'incertitude macroéconomique
Opportunities identified
Adoption d'UpToDate Expert AI par plus de 90 % des clients Enterprise Edition américains, dépassant l'objectif à mi-année
Partenariat élargi avec OpenAI annoncé début juin pour développer des solutions IA natives
Acquisition de StandardFusion et de Marosa renforçant les plateformes GRC et fiscalité
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
