In the dynamic world of mergers and acquisitions, emerging players are reshaping the landscape. One such success story is Tidal Partners, an advisory firm founded last year by former Centerview Partners dealmakers. This boutique firm, led by technology banking experts David Handler and David Neequaye, has swiftly gained recognition by securing a significant victory—advising Cisco Systems on its monumental $28 billion acquisition of cybersecurity firm Splunk.
Headquartered in Palo Alto, California, Tidal Partners may be relatively small, with just two dozen employees, according to its website. However, its impact in the advisory realm has been nothing short of remarkable. In the Splunk-Cisco deal, Tidal Partners stood as the exclusive financial advisor to Cisco, while larger investment banking peers, Qatalyst Partners and Morgan Stanley, provided counsel to Splunk.
David Handler, one of Tidal Partners’ founders, has a history of working closely with Cisco during his tenure at Centerview. His previous advisory roles included pivotal deals such as Cisco’s $5 billion acquisition of NDS Group in 2012 and the $3.7 billion purchase of AppDynamics in 2017.
Cisco’s CEO, Chuck Robbins, acknowledged the enduring relationship with David Handler and his partner David Neequaye, stating, “We’ve known David and his partner David for a very long time. They did a great job for us, and so we’ve had that relationship for a long time.”
Tidal Partners’ remarkable achievement coincides with a growing trend in the technology banking sector. More technology bankers are choosing to establish their own firms, driven by market dynamics and the current slowdown in dealmaking within the sector. Notably, just recently, three former Qatalyst Partners bankers launched AXOM Partners, a boutique investment banking firm focused on technology.
David Handler and David Neequaye, the driving forces behind Tidal Partners, previously played pivotal roles in establishing Centerview’s technology advisory group back in 2008. Their expertise extended to advising other major technology giants, including Qualcomm Inc and Twilio, further solidifying their reputation as trusted advisors in the tech industry.
Since its inception last year, Tidal Partners has been actively involved in advising on various transactions, including ServiceNow Inc’s acquisition of G2K Group and Bloom Energy’s noteworthy $550 million convertible notes offering.
It’s worth noting that David Handler, who previously had a tenure at UBS Group, engaged in a legal battle with Centerview after his departure, centered on a pay dispute.
As Tidal Partners continues to make waves in the tech advisory landscape, its success story serves as a testament to the agility and impact that boutique firms can achieve in the world of mergers and acquisitions.
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