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

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.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.