In a move that further consolidates the world of industrial operational risk management software, Wolters Kluwer Legal & Regulatory acquired eVision Industry Software BV for $145 million.
eVision provides software to help companies in high-risk and high-precision industries improve control over their operational processes, with an aim towards reducing risk and boosting efficiencies. The company works primarily with businesses in the oil & gas, pharmaceutical and chemical industries.
Wolters Kluwer’s Enablon business already has an active partnership with eVision. Now, the firm plans to align the two businesses to respond to growing industry demands for a holistic process to control all elements of industrial operational risk management into one platform. That platform aims to cover everything from environmental and safety concerns to operational risks.
In tune with the larger technological revolution impacting the marketplace, eVision’s One Vision platform integrates both on-premise and mobile devices and is available in the cloud. eVision recorded revenues of $25 million last year and expects to achieve double-digit growth this year, and while there is currently strong demand for the company’s on-premise software, cloud-based offerings are expected to drive most future growth.
Over the course of three to five years Wolters Kluwer expects the deal to deliver an 8% return on invested capital above its after-tax weighted average cost of capital. In 2017, about 20% of eVision’s revenue was recurring and almost 80% was booked in U.S. dollars.
Wolters Kluwer is a global information services company. It serves many industries, including healthcare, legal, tax and accounting. It is headquartered in the Netherlands and serves customers in over 180 countries and employs 19,000 people worldwide. One arm of the business includes Wolters Kluwer Health, the U.S. based medical publishing company.
Also headquartered in the Netherlands, eVision was founded in 2008 and, in addition to its headquarters, maintains offices in the U.S., the U.K. and Qatar.
