Cisco working with M&A firm Tidal to acquire cybersecurity firm Splunk in $28 billion deal

A new mergers and acquisitions advisory business released last 12 months by previous Centerview Associates dealmakers has scored a significant earn by advising Cisco Programs on its $28 billion acquisition of cybersecurity agency Splunk.

Based in Palo Alto, California, Tidal Companions was began by technological innovation bankers David Handler and David Neequaye. Their organization, which employs just two dozen folks, according to its web-site, was the sole economic adviser to Cisco, whilst more substantial financial investment banking friends Qatalyst Partners and Morgan Stanley suggested Splunk.

Whilst at Centerview, Handler worked intently with Cisco for several years and advised on several bargains, like Cisco’s $5 billion acquisition of NDS Group in 2012 and Cisco’s $3.7 billion acquire of AppDynamics in 2017.

“We’ve recognized David (Handler) and his spouse David (Neequaye) for a pretty prolonged time. They did a excellent work for us, and so we have had that relationship for a lengthy time,” Cisco CEO Chuck Robbins reported in an job interview on Thursday.

Tidal’s earn comes as much more technology bankers determine to launch their individual companies amid an in general slowdown in dealmaking in the sector. 3 previous Qatalyst Partners bankers launched a new technological know-how-concentrated expense banking boutique termed AXOM Partners previously this week, Reuters reported.

Handler and Neequaye assisted start Centerview’s technologies advisory group in 2008. The team went on to advise other main technology firms, together with Cisco, Qualcomm Inc and Twilio.

Considering that its start previous yr, Tidal Associates has recommended on transactions, such as ServiceNow Inc’s acquisition of G2K Group and Bloom Energy’s $550 million convertible notes giving.

Handler, who earlier labored at UBS Team, sued Centerview just after his departure over a pay back dispute.