Wolters Kluwer to Acquire Svenson from SmartStream

The Austrian-focused product includes a number of modules for reporting, risk management and monitoring. Terms of the deal were not disclosed, but Svenson's 15 employees will transfer to Wolters Kluwer, with a close expected by the end of the summer.

"The global financial crisis, globalization, and increasing regulatory scrutiny have created challenges for financial organizations and that is no exception for firms operating in Austria and the surrounding area," says Raffi Festekjian, CEO of the finance risk and compliance unit at Wolters Kluwer. "These pressures require intelligent and comprehensive solutions and services to address the complexities of a rapidly evolving regulatory environment. Together, we will continue to provide customers with comprehensive support, and global regulatory, finance and risk management solutions."