The dominant story of Canadian tech over the past twelve to eighteen months is the number of buyouts of firms, mostly by US based concerns. The recent sale of Quebec’s 20-20 Technologies added to a record list that included Gennum, Miranda and Mosaid.
Today, more evidence that our tech stocks, which have struggled with valuation for what seems like a decade, are attractive to the rest of the world.
This morning, Versant Partners announced that Cantor Fitzgerald Canada has entered into an agreement to hire the sales and trading, research, and investment banking team of Versant.
Versant founder Mike Jams will lead Cantor’s Canadian Equity Capital Markets team, and its head of research Tom Liston will join Cantor as Director of Canadian Research, responsible for broadening the scope and depth of research coverage.
This story is brought to you by Cantech Letter sponsor BIOX (TSX:BX). The largest producer of biodiesel in Canada, BIOX’s proprietary production process has the capability to use a variety of feedstock, including recycled vegetable oils, agricultural seed oils, yellow greases and tallow. For more information CLICK HERE.
Cantor Fitzgerald’s 1,600 employees serve clients through over 30 locations, including the Americas, Europe, Asia/Pacific and the Middle East. Cantor Fitzgerald & Co. in the U.S. is one of 21 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York.
“We’re bullish on Canada and Canadian companies, and look forward to championing them,” said Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co. “We are confident in Mike, Tom and the rest of the Versant team’s ability to add value to clients and the firm. The Versant team underscores Cantor’s continuing commitment to providing clients with world-class expertise in key local markets. These talented professionals will help broaden our capabilities, strengthen our existing customer relationships and enhance our overall offering for clients in Canada.”
“We see an opportunity in the Canadian market to gain share by enhancing our service offering to investors and issuers alike,” said Mr. Rose. “Mike and his group bring to Cantor a deep understanding of the Canadian market and substantially add to our existing resources and capabilities. This new team will enhance our ability to distribute Canadian financial products globally and provide Canadian institutions with access to global products domestically. We expect clients to benefit from our global reach and research, combined with our high-touch service model.”