KYN Capital Group signed an agreement to acquire ATAX Cloud, a financial equipment leasing and tax preparation company.

The subsidiary is a franchise that provides financial services, leasing, tax preparation, payroll and other ancillary services in the financial sector.

The acquisition will give KYN the equipment necessary for organic growth and room for other planned acquisitions. The board of directors also believe this will create greater share value for its shareholders.

The transaction is expected to close by October 20, 2018.

Clem Yeboah, the CEO of KYN, said, “This acquisition enables the company to provide key services in the equipment leasing and financing area as well as tax preparation, financial statements for both public and private companies. ATAX has multiple revenue streams and the company will discuss the value of them with its shareholders after October 20, 2018.”