Insite Buys MTSI
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The terms of the acquisition were not revealed, although Insite said it involved a new issue of shares and a smaller portion of cash.
Specializing in interactive education, Insite has grown rapidly in recent months, expanding its operations to several locations in Sweden in addition to its online presence. Its purchase of MTSI will add further offices in Switzerland, Sweden, Spain and Italy.
"MTSI brings strategic expertise to Insite, and our business ideas are very much in harmony. This is a wise course to pursue," said Michael Koch, president of Insite.
"In addition we possess a large international network of offices. Insite supplies what are probably Europe's most efficient e-learning applications, which strengthens us in our dealings with customers," said Rockert.
Formed in 1997, Insite currently employs approximately 90 people. Its largest single shareholder is the IT investment company Speed Ventures.
Active worldwide, Insite supplies training solutions using Simulation Based Training (SBT) techniques and e-learning. Its customers are large knowledge-intensive organizations.
By contrast, MTSI is a more general consultancy, helping global companies improve their commercial effectiveness. MTSI says it encourages a "top-down" approach, helping companies implement their essential commercial objectives and strategies.