Kaplan agrees to buy Financial Training Company

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Kaplan, a training firm which already co-brands courses with FTC, said it reached the agreement with the main shareholders of FTC and that the deal was conditional on the others accepting the offer.

It valued the acquisition at 55.4m (€81m). FTC is privately held by investors including Royal Bank of Scotland Private Equity, as well as FTC management and employees, Kaplan said.

FTC runs exam courses for more than 25,000 students a year. They include the Chartered Financial Analyst exams as well as the ACA and ACCA accountancy qualifications in the UK, Hong Kong and Singapore. FTC's unaudited revenues in 2002 were 33.9m, Kaplan said.

It said the deal would enable FTC to use Kaplan's educational expertise, including its learning technologies. Kaplan is owned by The Washington Post Company and provides educational and career services for individuals, schools and businesses.

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