Technology company New Quantum Holding has completed stage one of its 80 per cent acquisition of Morrison Securities from ASX-listed licensee Sequoia Financial Group. 

The remaining 29.9 per cent of the $40.5 million deal will be completed on or before 31 August 2023. 

The deal continues to be funded by Beaconsfield Capital, a London-and-Boston-based technology focused hedge fund with private equity and venture capital arms.

Once the acquisition is complete, New Quantum plans to use Morrison’s infrastructure offering to expand into US capital markets and develop further strategic partnerships in the Middle East, Asia, and the US.