Credit Suisse scores $10 billion tech treble

Credit Suisse has notched up advisory roles on more than $ 10 billion of mergers and takeovers in the global technology sector in a week, after landing a mandate to advise a Dutch client on a $ 3 billion-plus deal.

Credit Suisse logo on gold bars


Investment bankers at Credit Suisse are working with the chip maker ASML on a proposed acquisition of Taiwanese peer Hermes Microvision, a deal valued at $ 3.1 billion by the data provider Dealogic.

A spokeswoman for Credit Suisse said the bank was acting as ASML’s sole adviser.

It is the third large technology M&A deal announced over the past seven days on which Credit Suisse has had an advisory role.

On June 14, it emerged the bank was working as sole adviser to Dutch-headquartered NXP Semiconductors on the agreed $ 2.75 billion sale of its standard products business to a Chinese investment consortium.

Credit Suisse is a long-time adviser to NXP, having worked as bookrunner on the company’s 2010 IPO.

The previous day, it emerged that the security-software maker Blue Coat Systems was in talks over a possible $ 4.6 billion sale to software giant Symantec. Credit Suisse is acting alongside Wall Street banks Morgan Stanley and Goldman Sachs in advising Blue Coat Systems.

Barclays, JP Morgan, Citigroup, Bank of America Merrill Lynch and Wells Fargo are advising Symantec, according to Dealogic.

Credit Suisse ranks ninth for advice on technology M&A deals globally so far this year, according to Dealogic, down from first at the same point in 2015. The technology, media and telecommunications team at Credit Suisse’s investment bank is led globally by US-based David Wah and Mark Simonian.

In May, it was reported that five senior technology bankers at Credit Suisse – William Brady, Cully Davis, Cameron Lester, John Metz and Steve West – had left to join a rival team at Jefferies.

Credit Suisse’s investment bank is focusing on traditional services like M&A and capital markets advice rather than trading under chief executive Tidjane Thiam, who took the reins in 2015. It has since brought in a number of senior dealmakers, most notably the former Deutsche Bank rainmaker Henrik Aslaksen, who Financial News revealed in April would be joining as head of strategic client coverage in Europe, the Middle East and Africa.

The ASML deal adds to a busy week for the world’s investment bankers working in the technology sector. Microsoft‘s huge $ 26.2 billion offer for the networking site LinkedIn is a particular boon for Morgan Stanley as the only bulge-bracket bank on the ticket.

Morgan Stanley’s bankers advising Microsoft include its San Francisco-based head of global technology M&A Mike Wyatt, and head of global technology investment banking Drew Guevara.

Meanwhile, ex-Morgan Stanley banker Frank Quattrone’s boutique Qatalyst Partners and technology specialist Allen & Co are advising Linkedin.

Additional reporting by Lucy Burton

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