Technology company New Quantum Holdings has recently concluded the last tranche of its $40.5 million acquisition of 80 per cent of equities clearing business Morrison Securities, from Sequoia Financial Group.
New Quantum will use Morrison Securities’ infrastructure offering to expand into US capital markets and develop further strategic partnerships in the Middle East, Asia, and the US.
The acquisition deal was funded by Beaconsfield Capital, a London-and-Boston-based technology focused hedge fund with private equity and venture capital arms.
New Quantum plans to combine with blank check company Canna Global in a reverse merger soon. The agreement for this was signed in June.