Wolters Kluwer today announced it will acquire SilverPlatter Information (Boston, United States). SilverPlatter, with annual sales of approximately USD 70 million, is a provider of medical and scientific databases and related software. The company will be combined with Ovid Technologies (New York, United States) in a manner which takes advantage of the complementary strengths of both organizations. The combination of SilverPlatter and Ovid Technologies will be a first class provider of research tools for medical and scientific researchers. The acquisition is in line with Wolters Kluwer's strategy to expand its electronic offerings in the medical and scientific fields and integrate content with software and services. Terms of the deal were not disclosed. The acquisition of SilverPlatter is subject to regulatory clearance.
SilverPlatter provides search and retrieval technology to medical, academic, corporate and educational researchers worldwide with access to more than 250 electronic reference databases. Its 'SilverLinker' product offers more than 2.5 million links to over 6,500 journals and 2 million articles. SilverPlatter has over 11,000 institutional customers worldwide, with particular market strength in academic libraries. The services of SilverPlatter are offered through the Internet, Intranet and local CD ROM solutions. SilverPlatter currently employs some 170 people, and has its main offices in Boston (United States) and London (United Kingdom).
Wolters Kluwer's main objective with the acquisition and integration of SilverPlatter is to create a comprehensive channel for medical and scientific information. The acquisition of SilverPlatter will more than double the size of Wolters Kluwer's presence in the rapidly growing market for electronic medical and scientific information. The activities of SilverPlatter and Ovid are complementary in many ways: SilverPlatter has strong sales in the scientific market, while Ovid has its traditional strength in the medical market. SilverPlatter has developed leading market positions in Europe and emerging markets, whereas Ovid is strongest in the United States.
Hugh Yarrington, Member of the Executive Board of Wolters Kluwer and responsible for the International Health & Science cluster about the acquisition of SilverPlatter:
"We are very pleased to add SilverPlatter to our International Health & Science cluster. Our strategy is to offer the best medical and scientific information and research tools on a world-class, technical platform.
SilverPlatter's offerings will complement the assets that Wolters Kluwer has already assembled in Ovid Technologies, Lippincott Williams & Wilkins, Kluwer Academic Publishers, Adis International and Facts & Comparisons. The acquisition is an important step in realizing our vision for the cluster."
Note for the editor:
Ovid Technologies (New York, United States) is a leading provider of electronic information to the scientific, technical and medical markets. Ovid develops sophisticated search software for academic, medical and corporate customers and bundles this technology with full text, bibliographic, and summary content databases from the world's leading professional publishers. Ovid has over 5,000 institutional customers worldwide with more than 2.5 million individual users. As the leading source for medical and scientific information, Ovid provides more than 9 million links between bibliographic and full text resources. Wolters Kluwer acquired Ovid Technologies in 1998. The company is part of the International Health & Science cluster.
SilverPlatter collaborates with content partners to provide authoritative reference information to libraries in academic and research institutions worldwide. The company utilizes the tools of the software and information science technologies to integrate the content provided by partners into electronic information products and services, adding value in the integration of the content and the software. SilverPlatter provides access to more than 250 electronic reference databases. SilverPlatter currently employs some 170 people, and has its main offices in Boston (United States) and London (United Kingdom).
Wolters Kluwer is a multinational information services company with annual sales of approximately EUR 3.7 billion, employing approximately 19,000 people in Europe, North America and Asia Pacific. The company's core activities are Legal, Tax & Business, International Health & Science, and Education. The Wolters Kluwer shares are quoted on the Euronext Amsterdam. The Annual Report 2000 of Wolters Kluwer will be released on April 17, 2001. The Annual General Meeting of Shareholders will take place on May 4, 2001. The financial results for the first half 2001 will be announced on August 14, 2001.