CORAL SPRINGS, Fla. - The broker-dealer Franklin Ross Inc. announced Monday that it had signed a letter of intent to be bought by INFE Inc. of Tysons Corner, Va.
INFE, which provides capital and infrastructure to emerging technology companies, already holds 4% of Franklin Ross' stock. INFE expects the deal to close within 30 days, pending approval from the National Association of Securities Dealers.
The price was not disclosed.
Franklin Ross, which specializes in online day trading, had 2000 revenues of $3 million.