SVB Financial in Santa Clara, Calif., has acquired a sell-side research firm that covers the media, communications and technology sectors.
The $190 billion-asset SVB said in a press release Monday that it bought MoffettNathanson in a move that should help its SVB Leerink investment banking business expand its research coverage.
SVB did not disclose the price it paid.
“The MoffettNathanson team has built an incredible reputation as a leader in equity research,” Greg Becker, SVB’s president and CEO, said in the release. “The addition of technology equity research is another important step in further solidifying our place as the essential partner to innovation economy clients.”
SVB entered the investment banking business in 2019 when it bought Leerink Holdings.