BTS Group AB (Stockholm), a business simulation training and consulting company, has signed a letter of intent to acquire the businesses of The Advantage Performance Group (APG; Tiburon, CA) and The Real Learning Company (RLC; Scottsdale, AZ), two privately held training and consulting organizations.

BTS Group AB (Stockholm), a business simulation training and consulting company, has signed a letter of intent to acquire the businesses of The Advantage Performance Group (APG; Tiburon, CA) and The Real Learning Company (RLC; Scottsdale, AZ), two privately held training and consulting organizations. Finalization of the deal, expected in September, is pending the completion of due diligence and board approval. APG and RLG were represented in the deal by Whitestone Communications (New York) and Luntz, Suleiman & Associates (New York). APG and RLC had combined net revenues of $21.3 million in 2005. BTS has agreed to pay $2 million in stock and $18 million in cash for the two companies, with an earn-out maximized at $4 million to be paid if profitability targets are met in 2006 and 2007.