STOCKHOLM, Sweden and STAMFORD, Conn., July 9, 2013 (GLOBE NEWSWIRE) -- BTS GROUP AB (publ), a world leading strategy implementation firm, announced today that it has signed a binding agreement to acquire the businesses of Wizerize A/S, a leading Danish technology and consulting company based in Copenhagen.
The acquisition gives BTS new capabilities to offer market leading, digital-enabled social and mobile learning experiences and on-the-job tools. In addition, it further strengthens BTS position as the world-leading accelerator for high impact strategy alignment, leadership and sales events. In addition, BTS also gains key consulting talent and insights in the burgeoning market for social and mobile services, as well as several business simulations on leadership and collaboration.
"The Wizer(r) system is very innovative and lays the foundation for BTS future growth into mobile and social applications that complement our simulation-based learning and strategy execution initiatives for clients." commented Henrik Ekelund, President and CEO, BTS Group. "We believe the Wizerize acquisition presents a strategic opportunity for BTS to create more value for our clients whenever they look to communicate strategies and fully engage the organization to execute them."
Using state-of-the-art technology and innovative methodologies, the Wizerize technology enables the creation and delivery of highly customized learning experiences via mobile devices, tablets and computers. The Wizer(r) application turns attendees into active participants, accelerating knowledge sharing, learning, co-creation and shared commitment to action. It enables clients to make meetings transformational, not just information.
"We are very excited to join BTS. Our teams share a passion for creating positive change in organizations using simulations and experiential learning," said Flemming Fog, CEO of Wizerize. "Together we can take a leading role in helping clients jump-start their strategies through cutting edge mobile and social experiences and applications, as well as dramatically raise the impact of meetings by digitally enabling them."
Wizerize employees and the Wizer(r) system will become a part of BTS Digital, which will customize and deliver online, social, mobile and gamification solutions for BTS clients. Within that group, Flemming Fog will lead BTS's new digital-enabled events practice and also play a chief creative role in BTS Digital's innovation and client services. BTS will invest to extend the Wizer(r) system to enable wider capabilities for online, social, mobile and gamified experiences and on-the-job application.
"Mobile, social and gamification are new and expanding business imperatives for strategy execution and organizational learning," noted David Ackley, Senior Vice President and head of BTS Digital. "The Wizerize team will play a key role in leading our growth and innovation in these areas."
For more information, please contact:
Senior Vice President
Corporate Communications and Investor Relations
BTS Group AB
Phone +46-8-5870 7002
Mobile +46-768-966 300
About BTS Group
BTS is a world leading strategy implementation firm. The company accelerates execution by ensuring the workforce is aligned to the strategy, has the right mindset, and has mastered the capabilities needed to deliver business results. BTS leverages customized business simulations and experiential learning initiatives to develop the business acumen, leadership and sales capabilities necessary for superior strategy execution. Partnering with today's leading corporations, BTS consultants bring passion and deep industry expertise to deliver high-impact solutions that help clients achieve better results, faster.
Headquartered in Stockholm, Sweden, BTS has more than 350 professionals in 29 offices located on six continents. Partnering with nearly 400 organizations, including more than 30 of the world's 100 largest corporations, BTS's major clients are some of the most respected names in business: Anglo American, AT&T, Chevron, Coca-Cola, Ericsson, HP, Rio Tinto, Telefonica, and Unilever.
BTS is a public company listed on the NASDAQ-OMX Stockholm exchange and trades under the symbol BTS b.
BTS Group AB revenues were MSEK 770.7 in 2012. For more information, visit www.bts.com.
Based in Copenhagen, Wizerize A/S is an independent and innovative company born out of a strong change management background with experiences from leading global corporations. Since 2005 Wizerize has invested in building its own Web 2.0 platform: Wizer(r). Combining individual and team exercises and large group social collaboration via mobile devices, tablets and computers, Wizer(r) is the most advanced and flexible technology platform of its kind that exists today.
Wizerize also works in close cooperation with leading academics, including Professor Albert Angehrn, Director of the Centre of Advanced Learning Technologies at INSEAD, with whom the company has collaborated for over three years. Wizerize had revenue in excess MSEK 2.6 per employee in 2012.
About BTS Digital
BTS Digital (formerly BTS Interactive) has been providing innovative web-enabled solutions for connected strategy execution and learning experiences using online, social, mobile and gamified media to clients since 1999. The team of more than 25 consultants supports BTS offices around the world from four main development studios in Philadelphia, Mumbai, San Francisco and Stockholm. BTS Digital produces award-winning online, virtual and mobile solutions, as well as scenario-based simulations.
Recently, BTS Digital achieved an important milestone in its online business: more than 1 million participant logins by almost a quarter-million unique users.
Specific Information on the Transaction
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 gain the opportunity to serve new and existing customers with innovative services based on next generation, digital technologies.
Wizerize brings a strong solution portfolio based on state-of-the-art technology and an innovative methodology, which enables the creation and delivery of highly customized learning experiences. Wizerize solutions combine individual and team exercises and large group social collaboration using mobile devices, tablets and computers.
Acquisition Price and Financing
BTS will acquire all of Wizerize business including talent, technology, intellectual property, customers, brands, and equipment.
BTS will complete the transaction through its U.S. subsidiary, BTS USA, Inc. The purchase price includes:
- Upfront cash payment of USD 0.9 million
- USD 0.1 million in the form of a new share issue to the sellers of 12.000 B shares at SEK 56.81 using the mandate given at the last Annual General Meeting.
- A maximum earn-out of USD 0.8 million, which will be paid out if the purchased businesses meet specific targets during 2013 to 2017.
The acquisition is estimated to have a positive impact on BTS earnings per share in 2014. No further financial facts are disclosed.
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.
Source:BTS Group AB