Professional and information services company Wolters Kluwer has acquired contract lifecycle management software provider CLM Matrix for $35 million, further pushing it into the growing contract management market.

Jonah Paransky, executive vice president and general manager at Wolters Kluwer ELM Solutions, said that CLM Matrix will continue to be sold as a stand-alone product, while at the same time being integrated into the company’s spend and matter management products.

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