VirtualBank acquires CMS Financial
VirtualBank, a Web-based financial services company, acquired Rockville, Md.-based CMS Financial Services, a wealth management company, VirtualBank said Monday. The 2-year-old VirtualBank also said it reported its first profit last month. North Palm Beach, Fla.-based VirtualBank, which said it acquired CMS Financial to cater to "high net worth" investors, did not disclose the terms of the deal.
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Greg Sandoval covers media and digital entertainment for CNET News. Based in New York, Sandoval is a former reporter for The Washington Post and the Los Angeles Times. E-mail Greg, or follow him on Twitter at @sandoCNET.
VirtualBank, a Web-based financial services company, acquired Rockville, Md.-based CMS Financial Services, a wealth management company, VirtualBank said Monday. The 2-year-old also said it reported its first profit last month. North Palm Beach, Fla.-based VirtualBank, which said it acquired CMS Financial to cater to "high net worth" investors, did not disclose the terms of the deal.