US online investment bank MunicipalTrade has acquired Internet-based municipal bond brokerage MuniDirect.com. Financial terms have not been disclosed.
MunicipalTrade says it purchased Atlanta-based MuniDirect to enhance its marketing and distribution capacity for new-issue municipal offerings.
MuniDirect customers should benefit from having better access to the primary market and enhanced online functionality. The companies will provide a full-range of services and products to all participants in the tax-exempt bond market.