ILX Group is to acquire The Corporate Training Group, the London-based financial training company with 16 staff, for an initial £7m. The consideration will be satisfied by £5m in cash and the remainder by the issue of 2.5 million new Ordinary Shares. There will then be an earn-out of up to £5m subject to the achievement of certain profit targets, to be paid in June 2007 and June 2008. "The acquisition of CTG is a major step change for the ILX Group. It will bring considerable scale and will effectively double the profitability of the current ILX Group business. CTG's focus provides us with a golden opportunity to extend our current business model. The market for financial training is large, well defined and provides the prospect of good levels of organic growth." - Ken Scott, ILX CEO.