Crossroads Systems, Inc. (OTCPK: CRSS) acquired Capital Plus Financial, LLC for $39.5 million on December 18, 2017. Under the terms, Crossroads issued its 2.96 million shares and paid $30.8 million as consideration. The new shares will represent 49.50% of Crossroads' outstanding shares after giving effect to the closing. The cash portion of the purchase price is being funded with $24.2 million of new Crossroads debt plus $6.6 million of Capital Plus Financial's cash on hand. Capital Plus Financial generated $3.4 million in pre-tax earnings in 2017. Capital Plus Financial's Chief Executive Officer, Eric Donnelly, and Chief Financial Officer, Farzana Giga, have replaced Richard K. Coleman, Jr. and Robert G. Pearse on Crossroads' board of directors. Eric Donnelly has also been appointed Crossroads' Chief Executive Officer. Capital Plus Financial will continue to be led by its existing management team and operate as a wholly owned subsidiary of Crossroads. Crossroads Systems, Inc. (OTCPK: CRSS) completed the acquisition of Capital Plus Financial, LLC on December 18, 2017.