(January 28 – 10:20 ET) – VERSUS Technologies Inc. has signed a letter of intent to acquire the online retail investment accounts of the Decision+Plus Investmax Partnership. It has also entered into a letter of intent with Decision-Plus M.C. Inc. to provide the customers of VERSUS subsidiary, E*TRADE Canada, with access to Decision’s investment technology.
Upon completion of the acquisition E*TRADE Canada will service the $25 million worth of Quebec-based online retail investment accounts previously serviced by Investmax and Decision.
“This is part of E*TRADE Canada’s strategic expansion into the Quebec market and reflects our commitment to build a strong franchise in the province, ” said Colleen Moorehead, president of VERSUS Technologies Inc.
Terms of the deals were not disclosed and both are subject to regulatory approval and the satisfaction of certain conditions.
-IE Staff