o3 Capital acquires U.S. based investment bank
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o3 Capital, an Indian boutique investment bank, has announced the acquisition of Wolet Capital, a small U.S. based investment bank though the price and terms of the acquisition have not been disclosed yet. The transaction is subject to regulatory approvals, and will be completed within few weeks. Founded in January 2007 by former senior employees of Avendus Advisors, o3 Capital, has done 16 transactions till date amounting to $1 billion. Wolet, on the other hand, has done deals worth $500 million in the last two years. Though o3 Capital already has a presence in the U.S., the acquisition of Wolet capital will further its access in the US markets, and help it deliver more opportunities for cross border activities to its clientele. Shyam Shenthar, MD, o3 Capital, said, "This is a significant moment for us. We have already developed a strong track record for our clients in the last six quarters, and this acquisition opens doors to tremendous new growth opportunities in the West." o3 Capital will retain the team of Wolet, while a few key personnel from o3 will also be joining the firm?s operations in the US. Adam Larkey heads Wolet Capital whose primary focus is on the IT/Technology, Healthcare and BPO/KPO markets.

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