KEYCORP /NEW/ acquired Pacific Crest Securities, a transaction announced in July 2014, structured as Acquisition; Pacific Crest Securities broker-dealer subsequently merged into KeyBanc Capital Markets Inc. (completed 2015).
Pacific Crest Securities operates in KeyBanc Capital Markets (corporate & investment banking — Technology). Pacific Crest Securities was a technology-focused investment bank and capital markets firm. KeyCorp acquired it to strengthen the technology-sector coverage of its corporate and investment banking business. Following the close, Pacific Crest's broker-dealer was integrated into KeyBanc Capital Markets, where it served as the technology specialists for the combined platform.
Expanded Key's technology investment banking and equity capital markets capabilities; Pacific Crest became the designated technology specialists within KeyBanc Capital Markets.
Advisory firms were not disclosed for this transaction.