Financial Testing Giant Kaplan, Inc. Expands to UK, Asia

Kaplan, Inc. a premier provider of educational and career services for individuals, schools and businesses, has announced that it is expanding its financial services testing capabilities by acquiring UK-based Financial Training Company (FTC) for about $90 million.

FTC trains over 25,000 students in the United Kingdom, Hong Kong and Singapore for a number of financial services organizations including the ACA(TM) (Institute of Chartered Accountants), ACCA(R) (Association for Chartered Certified Accountants) and CIMA(TM) (Chartered Institute of Management Accountants), as well as tax qualification programs and courses for investment professionals.

"FTC has significant compatibility with Kaplan's financial service businesses, and holds quality relationships with many of the same clients we have in the U.S.," said Jonathan Grayer, Kaplan chairman and chief executive officer. "This acquisition will broaden our menu of offerings, as well as the geographic distribution of our financial service products. We look forward to working with FTC's top-notch management team."

Kaplan and FTC have had a working relationship for a while, with FTC offering Kaplan’s Chartered Financial Analyst(R) training and products across Europe and Asia.

The acquisition is the second largest in Kaplan’s history, and is the first outside of the United States. Kaplan, Inc., which is owned by The Washington Post Company, recorded $621 million in revenues last year.

You may like these other stories...

2014 has marked the fifth consecutive year in which the percentage of US-based internal auditors who earned bigger paychecks increased, according to a new study from the Institute of Internal Auditors (IIA).This year, 92...
A new report from financial services consulting firm Mercer LLC found that the median total direct compensation for CFOs at S&P 500 companies increased by 7 percent last year to $3.13 million.Mercer defined total direct...
In today's volatile marketplace, companies, regardless of their size, are dealing with more complexity than ever before. Global markets, which bring both new opportunities and new competitors, far-flung supply chains...

Already a member? log in here.

Upcoming CPE Webinars

Oct 9In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards.
Oct 15This webinar presents the requirements of AU-C 600, Audits of Group Financial Statements (Including the Work of Component Auditors).
Oct 21Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience’s communication style.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.