(Reuters) - U.S. investment bank Cantor Fitzgerald said on Tuesday it is taking over the sales and trading, research, and investment banking businesses of Canadian investment dealer Versant Partners Inc in a deal that significantly expands its Canadian capacity.
Cantor Fitzgerald did not disclose the terms of the deal, nor was it immediately clear what would remain of Versant.
The U.S. company said the deal gives it the expertise and assets of Versant, a lead underwriter and advisor in technology, healthcare and other high-growth industries, and expands its investment banking team to serve Canadian institutional investors.
Versant’s Mike Jams will lead Cantor’s Canadian equity capital markets team, reporting to Cantor’s Canadian president Laurence Rose, while Versant technology analyst Tom Liston will join Cantor as director of Canadian research, charged with broadening the scope and depth of research coverage.
“We’re bullish on Canada and Canadian companies, and look forward to championing them,” Cantor Chief Executive Shawn Matthews said in a statement.
Reporting By Andrea Hopkins; Editing by Peter Galloway