Last week on Thursday financial technology company MCAP Inc (OTCMKTS:MCAP) came into the news cycle after it announced that it had completed the acquisition of QwickBonds from Monroe Financial Partners Inc and its affiliated unit QwickRate LLC.
On Friday, MCAP stock ended flat at $9 with more than 205 shares, compared to volume of 16 shares. The stock moved within a range of $9.00 – 9.00 after opening trade at $9.00.
MCAP Inc. Announces Acquisition of QwickBonds
By way of this acquisition MCAP is looking to become one of the leaders of the customer service focussed fintech firm. It was a significant new acquisition for the company and one that is expected to bring the stock into focus among investors as well. However, it remains to be seen if there is any significant activity in the MCAP stock over the course of this week or not.
The Chief Executive Officer of the company David Menn spoke about the development as well. He noted that the acquisition of the QwickBonds application software and its trading platform would considerably boost the trading technology product that it offers to its institutional customers. Specifically QwickBonds is a trading platform that is involved in the fixed income space and is tailored to the needs of credit unions, institutional investors and community banks in the United States. In addition to that, MCAP will get a pretty big distribution network thanks to QwickBonds’ existing base.