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.
Thomas Rockert, managing partner of MTSI, said his company’s
strength was in the strategic implementation of qualified training.
“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,”
Formed in 1997, Insite currently employs approximately 90 people.
Its largest single shareholder is the IT investment company Speed
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.