Cisco taps new M&A firm Tidal for $28 billion Splunk deal
21/09/2023 17:23
By Milana Vinn and Anirban Sen
NEW YORK, Sept 21 (Reuters) - A new mergers and
acquisitions advisory firm launched last year by former
Centerview Partners dealmakers has scored a big win by advising
Cisco Systems Inc CSCO.O on its $28 billion acquisition of
cybersecurity firm Splunk Inc SPLK.O .
Based in Palo Alto, California, Tidal was started by
technology bankers David Handler and David Neequaye. Their firm,
which employs just two dozen people according to its website,
was the sole financial adviser to Cisco, while larger investment
banking peers Qatalyst Partners and Morgan Stanley MS.N
advised Splunk.
"We've known David (Handler) and his partner David
(Neequaye) for a very long time, they did a great job for us,
and so we've had that relationship for a long time," Cisco CEO
Chuck Robbins said in an interview on Thursday.
Tidal's win comes as more technology bankers decide to
launch their own firm amid an overall slowdown in dealmaking in
the sector. Three former Qatalyst Partners bankers launched a
new technology-focused investment banking boutique called AXOM
Partners earlier this week, Reuters reported.
Hanlder and Neequaye helped launch Centerview's technology
advisory group in 2008. The group went on to advise other major
technology companies including Cisco, Qualcomm Inc QCOM.O and
Twilio Inc TWLO.N .
Handler, who previously worked at UBS Group AG UBSG.S ,
sued Centerview after his departure over a pay dispute.
(Reporting by Milana Vinn and Anirban Sen in New York)
((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
Messaging: Signal/Telegram/Whatsapp - +1-646-705-9409))