Philadelphia’s Rapid Learning Institute LLC is being bought by BTS GROUP AB, a global strategy implementation firm based in Stockholm.
With the acquisition of Rapid Learning, BTS will gain a library of more than 200 proprietary learning modules centered on five- to seven-minute research-backed videos, and in addition a collection of more than 2,500 articles on leadership and sales authored by the company’s editorial team.
Rapid Learning’s Micro-First method to online training gives BTS thought leadership in single-concept learning facilitated by line leaders in the flow of work. The company will also bring a set of clients who subscribe to RLI’s programs or license its content. Its inside sales expertise and customer success management experience is expected to help BTS increase its market penetration and expand its base of recurring revenue streams.
Rapid Learning’s revenues over the last twelve months are approximately $2.8 million. The company has 20 employees.
The executives of Rapid Learning, Stephen J. Meyer, Rob Krekstein and Michael Boyette, have agreed to stay on with BTS to drive the organization’s continued growth. An MBA graduate of the Wharton School at the University of Pennsylvania and founder of Rapid Learning, Meyer is an accomplished journalist, editor and publisher, having contributed to Forbes and Advertising Age and headed both editorial and marketing for more than two dozen employee development publications.
The acquisition includes an initial cash consideration. An additional payment will be paid out in 2023 provided the purchased operations meet specific targets 2020-2022.
BTS' strategy for acquisitions aims to create a broader base for future organic growth while actively consolidating in a highly fragmented market. Through its acquisitions, BTS also seeks to broaden its customer base and offering by bringing in new, existing and innovative services based on state-of-the-art digital technologies.