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Piper Jaffray buying Edgeview Partners

MINNEAPOLIS (AP) -- Investment bank and asset management firm Piper Jaffray Cos. is buying middle-market advisory firm Edgeview Partners LP.

Financial terms were not disclosed.

Edgeview Partners specializes in mergers and acquisitions. Piper Jaffray said Monday that the deal will strengthen its position in middle-market mergers and acquisitions and provide a complementary investment banking business. The transaction also gives Piper Jaffray more resources dedicated to private equity firms.

Edgeview Partners is based in Charlotte, N.C., while Piper Jaffray is based in Minneapolis.

The acquisition is expected to close in the third quarter.

Piper Jaffray's stock added 10 cents to $33.46 in morning trading.