Canaccord Adams, a UK investment bank and subsidiary of Canacord Capital, has agreed to acquire Edinburgh-based Intelli Partners for an undisclosed sum.

Intelli is a corporate advisory and brokering boutique focused on investment companies and the asset management sector. The deal complements Canaccord's recruitment of the investment trust team from Panmure Gordon in 2007 and the general financials team from Landsbanki in 2008. The deal is expected to close in October.

Tim Hoare, CEO of Canaccord Adams, said: 'The acquisition of Intelli provides our exceptional investment trust, sales and trading team with the primary product as well as a solid platform for our expansion strategy in Scotland.'

Canaccord Capital reported revenue of C$107 million (£61 million) in the first quarter of 2009, a reduction of 25 per cent from the previous year.