The BISYS Group, Inc. has acquired Dover International, a provider of professional certification training, continuing education and other support services for the financial services industry. Terms of the transaction were not disclosed.

Atlanta-based Dover provides Internet and instructor-led training and outsourcing of various compliance, professional licensing and other support functions for investment advisors, broker-dealers and insurance agencies. The Dover announcement follows BISYS' April acquisition of EXAMCO, another provider of Internet-based professional certification and training programs for the financial services industry.

"Dover and EXAMCO have complementary strengths which combined, create an unparalleled breadth of professional training curriculum and delivery methods," said BISYS chairman and ceo Lynn Mangum. "Major financial services organizations today need to provide training, licensing and continuing education to both insurance and investment professionals."

Dover also provides additional support services, including operational and compliance services such as onsite one-on-one training, mock audits and regulatory compliance reporting for the broker-dealer operations of banks, securities firms and insurance companies both domestically and internationally.

"According to a recent study of corporate America made by the Masie Center, a Saratoga Springs, New York-based think tank, 92 percent of large organizations are implementing some form of on-line learning this year," Mangum continued. "BISYS can now offer a single solution for outsourcing the entire licensing and continuing education function for the professional workforce through the Internet, classroom, textbook or CD-ROM. Our clients will be able to develop career paths for securities and insurance professionals, provide training via the appropriate delivery method, monitor training progress and track compliance requirements with unprecedented control."

"We think that the content available with EXAMCO and the added content on the investment side now with Dover, the services we offer are quite comprehensive," Mangum told the MFWire.com. "But I think this kind of web-based training has a lot more applications than are currently available, and it's likely that we will make more acquisitions in the area." 

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