Wolters Kluwer Legal & Regulatory has announced that it has signed an agreement to acquire CGE Risk Management Solutions B.V., a provider of risk management software, including the industry-standard BowTieXP solution. The acquisition could help extend Wolters Kluwer’s presence in the growing operational risk management software market.
CGE Risk Management Solutions serves risk experts in over 2500 corporations and public entities worldwide who operate in high-risk and asset-intensive industries, including mining, oil & gas, energy, aviation, transportation, utilities, chemicals, manufacturing, and healthcare.
One of the company’s products is the industry-standard BowTieXP, a barrier-based risk management solution for visual and qualitative risk assessment that can be used to analyse and communicate how high-risk scenarios around specific hazards develop. The product allows the creation of bowtie diagrams to visualise risks, provide an overview of multiple plausible incident scenarios, and show what barriers organisations have in place to control these scenarios.
The company will become part of Wolters Kluwer’s Environmental, Health & Safety and Operational Risk Management software group, which also includes Enablon and eVision. The combined offerings could enable customers to improve their EHS, ORM, and risk performance and to conduct more responsible, productive, and safe operations.
CGE recorded revenues of €5 million in 2018, mainly from software and services. Wolters Kluwer expects the acquisition to achieve a return on invested capital above the group’s after tax weighted average cost of capital (8%) within 3 - 5 years of completion. The transaction is expected to have a positive but immaterial impact on adjusted earnings in its first full year.
CGE was founded in 2004 and has approximately 30 employees, with headquarters in The Netherlands. CGE has a global customer base with the majority of customers in Europe, North America, and Australia.
The transaction is expected to close in 1Q20.
Read the article online at: https://www.globalminingreview.com/finance-business/17012020/wolters-kluwer-to-acquire-cge-risk-management-solutions/
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