STOCKHOLM, SWEDEN and JOHANNESBURG, SOUTH AFRICA, 2015-03-26 08:30 CET (GLOBE NEWSWIRE) --
– BTS GROUP AB (publ), announced that it has completed the acquisition of AVO Vision, a leading South African-based company focused on corporate learning and development as well as community–worksite education.
AVO Vision operates in the communication, learning and development and connecting space. The company empowers clients by giving them the tools necessary to become powerful leaders and communicators, accelerating individuals’ growth.
AVO Vision’s core offering includes programs designed to support and further build people’s leadership, management, self-mastery and sales execution skills. The company’s client-base primarily includes employees in corporate blue chip companies as well as senior leaders in government looking to improve their knowledge in these core areas.
“We are very excited about the acquisition of AVO Vision. The company has a track record of strong performance, high quality and deep presence across large parts of Africa. This fast-growing continent with its huge market for talent development presents a strategic opportunity for our new combined BTS & AVO Vision organization,” says Henrik Ekelund, President and CEO, BTS Group AB.
“Building and delivering learning and development solutions that empower people with the skills and insight to make better choices and live bigger lives, and being brave enough to take on challenges at a scale that makes a significant impact in South Africa and beyond is our mission” says Jules Newton, CEO and Founder, AVO Vision. “Becoming part of a global, highly successful company like BTS is a fantastic opportunity for me and my staff to take our vision to the next level”.
Information about the acquisition:
- BTS Group is taking ownership of AVO Vision through a non-cash transaction by assuming responsibilities for all matters of the Avocado Business such as employment contracts, customer contracts, office lease and liabilities. AVO Vision will be consolidated as of January 1, 2015.
- AVO Vision will remain a separate entity and become a subsidiary of BTS South Africa. The reason why AVO Vision will be kept as a subsidiary is based on their strong brand in the region and leading Black Economic Empowerment Rating.
- AVO Vision is anticipated to be profitable and produce revenues of approximately 12 MSEK during 2015.
For further information please contact:
Thomas Ahlerup
Senior Vice President
Corporate Communications and Investor Relations
BTS Group AB
Phone +46-8-5870 7002
Mobile +46-768-966 300
E-mail thomas.ahlerup@bts.com
Notes to the editor about BTS Group AB
BTS is a world leading strategy implementation and execution 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 400 professionals in 32 offices located on six continents. Partnering with nearly 400 organizations, including more than 30 of the world’s largest corporations, BTS’s major clients are some of the most respected names in business: Google, Tencent, Atlas Copco, Chevron, Coca-Cola, Ericsson, HP, and Unilever.
BTS Group AB revenues were MSEK 781,5 in 2014.
BTS is a public company listed on the NASDAQ-OMX Stockholm exchange and trades under the symbol BTS b.
For more information, please visit www.bts.com.
Please also visit our newsroom at http://www.mynewsdesk.com/se/bts
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.
