On Wednesday, Dutch information services company Wolters Kluwer announced that it was bringing its two main legal products groups together under one roof.
The company’s Enterprise Legal Management (ELM) Solutions business will now be aligned with its Legal & Regulatory (LR) division, “bringing the company’s legal software assets closer together to enhance product innovation,” according to the announcement, which came as part of Wolters Kluwer’s 2022 Full-Year Report to investors.
Previously, Wolters Kluwer ELM Solutions was part of the company’s Government, Risk & Compliance (GRC) business, which also houses its financial technology business lines. Now, both ELM and LR will exist under a newly created Wolters Kluwer division, Corporate Performance & ESG (CP & ESG). Wolters Kluwer Enablon, previously part of the LR division, will also move to CP & ESG.
“The new division brings together [Wolters Kluwer’s] global software businesses that focus on corporate performance management, environmental health and safety (EHS), and risk,” according to the report.
“LR’s Legal Software BU [business unit] and ELM serve similar customer needs in different geographies and segments of the market,” Wolters Kluwer spokesperson Frank Ready told Legaltech News in an email. “For example, Legisway serves corporate legal departments in small and medium sized companies, while ELM serves corporate legal departments in large corporations. The change will bring our legal tech assets closer together to enhance cross-selling and product innovation opportunities. ”
Ready also confirmed that Wolters Kluwer antipicated no staffing changes as a result of the reorganization, with Martin O’Malley continuing on as CEO of the LR division, and Raja Sengupta continuing to serve as executive vice president and general manager of ELM Solutions, now part of the LR division.
The company also told Legaltech News that they expect no layoffs as a result of today’s announcement.
