Investment bank Houlihan Lokey to buy rival ArchPoint - WSJ
March 11 (Reuters) - Investment bank Houlihan Lokey Inc will acquire smaller rival ArchPoint Partners to expand its technology mergers business, the Wall Street Journal reported.
Los Angeles-based Houlihan is likely to announce the deal for an undisclosed sum on Tuesday, the Journal said. ()
ArchPoint focuses on software and technology companies.
Among its deals, the San Francisco-based company advised ICG Group in the sale of its Channel Intelligence unit to Google Inc for $125 million last year.
Houlihan is owned by its employees and Orix USA Corp, a subsidiary of Japan's Orix Corp. The firm has advised on some of the largest U.S. bankruptcies, including Lehman Brothers, General Motors Corp and Enron.
The companies could not be immediately reached for comment outside regular U.S. business hours.