STOCKHOLM, Sweden, July 6, 2016 (GLOBE NEWSWIRE) -- BTS GROUP AB (publ), - BTS, a leading global strategy implementation firm, acquires the operations and certain assets and liabilities from Cesim Italia Srl and Design Innovation Srl based in Milan, Italy.
Cesim Italia, with some 34 employees and contractors earning revenues of about 3.5 MEUR 2015, offers Business Acumen, Leadership, Innovation, Change Management training and consulting services. Design Innovation is a boutique design house with six employees and revenues of about 0.5 MEUR specializing in innovation and design consulting services. Both companies have a long history of repeatedly serving major Italian companies.
BTS acquires the operations of both companies including talent, technology, intellectual property, brands and equipment on a cash and debt free basis. The purchase price includes an upfront cash payment of 1.7 MEUR. An additional payment estimated at 3.5 MEUR including some 0.6 MEUR in new BTS shares will be paid out, provided the purchased operations meet specific targets 2016-2020. The acquisitions are estimated to have a positive impact on BTS's earnings per share in 2016.
Dr. Philios Andreou , President of BTS Other Markets, including Southern Europe, states "With this acquisition our position in Southern Europe improves substantially as it gives us immediate access to over 40 top Italian clients. It also provides a strong Italian platform with additional talent and innovation solutions. In addition, the acquisitions will translate into a great opportunity to service many of the major Italian companies globally."
"We are excited to become a part of the BTS family. We share the same values and business approach which will make for an excellent cultural fit. The global footprint of BTS, its products and experiences will also be a great opportunity for our customers and colleagues," says Gianfranco Di Maira, one of the two owners and new Head of the merged BTS Italia.
"We believe our offering of tangible product and service design solutions complements BTS's innovation alignment and execution services," says Marco Rosetti, the other owner who will head up the Design Innovation operation and BTS's innovation practice in Italy.
The transactions have been completed through BTS's Spanish subsidiary, Business Training Solutions S.L.
BTS's strategy for acquisitions aims to create a broader base for future organic growth while actively consolidating a highly fragmented market. Through its acquisitions, BTS also seeks to serve new and existing customers with innovative services based on next generation, digital technologies.
For more information, please contact:
Investor relations and corporate communications
BTS Group AB
Mobile: +46 708-788 019
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden, with some 500 professionals in 34 offices located on six continents. We focus on the people side of strategy, working with leaders at all levels to help them make better decisions, convert those decisions to actions and deliver results. At our core, we believe people learn best by doing. For 30 years, we've been designing fun, powerful experiences that have a profound and lasting impact on people and their careers. We inspire new ways of thinking, build critical capabilities and unleash business success. It's strategy made personal.
We serve a wide range of client needs, including:
- Assessment centers for talent selection and development
- Strategy alignment and execution
- Business acumen, leadership and sales training programs
- On-the-job business simulations and application tools.
We partner with nearly 450 organizations, including over 30 of the world's 100 largest global corporations. Our major clients are some of the most respected names in business: AT&T, Chevron, Coca-Cola, Ericsson, Google, GSK, HP, HSBC, Salesforce.com and Unilever.
BTS is a public company listed on the Nasdaq Stockholm and trades under the symbol BTS B.
For more information, please visit www.bts.com
Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation. This information has been disclosed according to the Financial Instruments Trading Act and/or Securities Trading Act.
Source:BTS Group AB