Jefferies Group Acquires a Tech Edge - TheStreet

Jefferies Group

(JEF) - Get Report

Friday said it will acquire Broadview International, a M&A adviser to technology companies, for an undisclosed sum.

The deal comes after

Schwab

(SCH)

announced it was acquiring tech research specialist

SoundView Technology

(SNDV)

for about $324 million in cash in November.

Broadview, founded in 1973, employs more than 75 investment bankers in offices in New York, Silicon Valley, Boston and London, and provides advice on merger and acquisition transactions, restructurings and strategic private placements.

Jefferies said "a significant presence in the technology sector is key to our building the leading firm serving middle-market investors and issuers. This partnership combines Jefferies' strong investment banking, trading, research and asset management capabilities with the extensive technology industry knowledge and expertise of Broadview."

According to a news release, Broadview has completed 321 M&A transactions worth a total of $54.3 billion in the past five years.

Jefferies said it expects the deal to be completed by the end of the year. Its shares rose 22 cents, or 0.7%, to $32.17.