A press release entitled, "StoneCastle Acquires Insured Deposit Sweep Business from Intermedium Financial," explains, "StoneCastle Insured Cash Sweep, LLC ("​StoneCastle" or the "​Company"), a wholly owned subsidiary of StoneCastle Cash Management, LLC, a market leading provider of insured deposit technology and services to institutional investors, announced today that it has acquired the insured deposit sweep business of Intermedium Financial, LLC ("​Intermedium"). The transaction includes the InterLINK FinTech platform and related assets. The purchase of Intermedium'​s sweep business strengthens StoneCastle'​s position as a leading insured deposit provider for institutional investors and fulfills its strategy of expanding its reach into broker-​dealer, financial advisor, 401k, and additional market segments." Stephen Rotella, CEO of StoneCastle, comments, "We plan to be a disruptive and differentiated force in the insured sweep industry. The InterLINK platform complements and augments our current technology-​driven business and significantly expands our distribution options. We expect to add significant value to financial intermediaries and the clients they serve through the efficiencies created by this transaction and our proven ability to deliver deposit capacity." The release adds, "The company announced that it will operate the sweep business under the StoneCastle name while retaining the InterLINK brand. Existing customers and banks will not be impacted by the acquisition. Intermedium'​s San Diego office will continue to serve as the Operations Center for the sweep business."

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