Tidal M&A Firm advises Cisco successful on $28B Splunk Acqui

In the previous year, a fresh venture in the field of mergers and acquisitions advisory emerged in Palo Alto, California, named Tidal Partners, established by former Centerview Partners professionals, David Handler and David Neequaye.

Although Tidal Partners may be considered relatively petite in size, boasting a workforce of merely twenty-four individuals, the firm achieved a significant milestone by securing the prestigious position of being the exclusive financial advisor to technology giant Cisco Systems during its colossal $28 billion acquisition endeavour of cybersecurity powerhouse, Splunk. In contrast, renowned investment banking entities Qatalyst Partners and Morgan Stanley were engaged to provide their esteemed consulting services to Splunk during this transformative phase.

David Handler, an individual who had an extensive and enduring professional affiliation with Cisco throughout his time at Centerview, played a pivotal and prominent role in several highly noteworthy transactions. Among these transactions, two stand out as particularly significant: the acquisition of NDS Group USD from Cisco in 2012, which amounted to a staggering $5 billion, and the purchase of AppDynamics for an impressive $3.7 billion in 2017.

Cisco CEO Chuck Robbins voiced his unwavering belief in Handler and Neequaye, emphasizing the extensive and triumphant history of their partnership. The triumph of Tidal Partners in securing this victory aligns seamlessly with the prevailing inclination among technology bankers to establish their own firms, a strategic manoeuvre largely influenced by the industry's sluggish deal-making environment. Evidently, the establishment of AXOM Partners by three former bankers from Qatalyst Partners, a renowned investment bank, serves as a tangible testament to this burgeoning trend.

Handler and Neequaye played a crucial role in the establishment of Centerview's Technology Advisory Group back in 2008, a significant milestone in the company's history. Since its inception, this group has been dedicated to offering comprehensive consulting services to some of the most prominent technology companies in the industry, including Cisco, Qualcomm Inc., and Twilio. Through their expertise and guidance, Handler and Neequaye have successfully positioned Centerview's Technology Advisory Group as a trusted partner and valuable resource for these esteemed technology firms.

Tidal Partners, which was established just a year ago, has been significantly engaged in a diverse range of deals and transactions. Some of their notable involvements include providing guidance and assistance to ServiceNow Inc. in their acquisition of G2K Group, as well as facilitating the offering of a substantial sum of $550 million USD in convertible notes for Bloom Energy. It is worth mentioning that Handler, who was previously affiliated with UBS Group, found himself entangled in a legal dispute with Centerview following his departure, which primarily revolved around a disagreement regarding remuneration.