Wolters Kluwer Governance, Risk and Compliance (GRC) signed an agreement with The Reynolds and Reynolds Company to acquire International Document Services (IDS), a U.S. provider of compliance and document generation software solutions for the mortgage and real estate industry.
IDS will become a part of GRC’s compliance solutions business, a provider of compliance software for U.S. banks, lenders, credit unions, insurers, and securities firms.
“IDS is well-positioned to take advantage of continuing digital adoption trends and has a strong track record of innovation in the mortgage industry,” said Steven Meirink, executive vice president and general manager of Wolters Kluwer GRC compliance solutions. “This strategic and exciting acquisition will further solidify Wolters Kluwer’s market leadership in expert solutions for loan compliance and, alongside our eOriginal product suite, positions us as the leading provider of digital lending solutions.”
“Wolters Kluwer has a long and distinguished history of excellence and innovation, and we are truly excited to join this leading business,” IDS General Manager Mark Mackey said. “This is the perfect combination that will bring the next level of capabilities to our clients and the lending market.”
Wolters Kluwer will pay approximately $70 million for IDS. With anticipated revenue of approximately $15 million in 2022, Wolters Kluwer expects to make a return on invested capital within three to five years.