FDCTech (OTCQB:FDCT) Inc has announced that it has signed a letter of intent to acquire an 80% equity interest in independent investment bank CIM Securities LLC.
The company said the strategic acquisition aligned with its growth strategy through mergers and acquisitions, and the proposed acquisition would establish a US-based financial services company in FDCTech (OTCQB:FDCT)’s portfolio.
According to FDCTech, CIM Securities received regulatory approval from the Securities Exchange Commission in August 2002 and it is licensed to conduct its business in 49 US states and territories.
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CIM Securities serves micro-cap and small-cap companies by providing capital raising solutions and merger and acquisition services for companies seeking growth capital or services, FDCTech said.
The company also noted that CIM Securities offered private placement transactions where shares of or other investments in a particular company were purchased directly from the issuers, in addition to providing brokerage account services through its relationship with clearing firm Hilltop Securities.
FDCTech specializes in buying and integrating small to mid-size legacy financial services companies.
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