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☆ Tech layoffs return as LinkedIn and Qualcomm announce job cuts
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTech layoffs return as LinkedIn and Qualcomm announce job cutsCNBC's Deirdre Bosa reports on another wave of layoffs.

Persons: Deirdre Bosa Organizations: Tech, Qualcomm

☆ Qualcomm to cut roughly 1,258 jobs in California
▼ + stars: | 2023-10-12 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +1 min

Cristiano Amon, president and CEO of Qualcomm, speaks during the Milken Institute Global Conference in Beverly Hills, California, May 2, 2022. Qualcomm is cutting about 1,258 jobs in offices in two of its California locations, according to recent filings with the California Employment Development Department. The semiconductor manufacturer notified the state Wednesday that it would be eliminating roughly 1,064 of its San Diego employees and 194 of its Santa Clara employees. "Given the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities. We currently anticipate these additional actions to be substantially completed in the first half of fiscal 2024."

Persons: Cristiano Amon Organizations: Qualcomm, Milken Institute Global Conference, California Employment Development Department, San Diego, Santa Clara, CNBC Locations: Beverly Hills , California, California

☆ Morningstar says the semiconductor sector is undervalued — and names 4 stocks to buy
▼ + stars: | 2023-10-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Semiconductors are looking undervalued, thanks to the selloff in some parts of the sector, according to Morningstar. That's even more undervalued than the wider tech sector, which it believes is 5% undervalued. Morningstar noted such stocks have sold off a little in September, especially in analog and mixed signal names — two types of chips in the semiconductor industry — and even in artificial intelligence chipmakers. Outside the AI sector, the firm also likes autos, expecting more chips to be used in cars, especially electric vehicles, in the years to come. That will enable the company to achieve high single-digit long term revenue growth, Morningstar said.

Persons: Morningstar, Brian Colello, Jack Keegan, it's Organizations: Nvidia, Infineon Technologies, NXP Semiconductors, Qualcomm, Morningstar, Skyworks Locations: Taiwan

☆ Chipmaker Qualcomm to lay off over 1200 California workers
▼ + stars: | 2023-10-12 | by ( Jennifer Korn | ) edition.cnn.com time to read: 1 min

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☆ Bank of America: These 6 global AI stocks are 'hidden gems' with great potential
▼ + stars: | 2023-10-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America has identified five global stocks it says are set to benefit as the use cases of artificial intelligence applications grow significantly. In an Oct. 3 note titled "End-device AI: Great potential with hidden gems awaits," the bank said customized and private AI services could soon be brought directly to users' end devices, revolutionizing smartphones, tablets, cars and more. The report named semiconductor leaders like Qualcomm , MediaTek , Nordic Semiconductor, SK Hynix and Renesas as key potential beneficiaries. Qualcomm Price target: $145 (31% upside) Bank of America said automakers are expected to use advanced end-device AI capabilities from Qualcomm's Ride platform for in-car services. MediaTek Price target: 1,100 New Taiwan dollars (40% upside) Bank of America expects the firm to add generative AI functions to its next flagship smartphone chips.

Persons: Brad Lin, MediaTek Organizations: of America, Bank of America, CES, MWC, Qualcomm, MediaTek, Nordic Semiconductor, SK Hynix, Meta, SK Hynix Price Locations: Taiwan

"Most traffic issues occur because of non-line-of-sight scenarios," the government panel said in its 58-page draft, which is being reported for the first time by Reuters. "Most sensors do not work well in these scenarios and V2X fills the gap," it added, referring to the connected car technology commonly known as vehicle-to-everything (V2X). In Europe, the Euro NCAP rules recognise vehicle connectivity as a key milestone in crash avoidance and car ratings, the report added, while China and the United States are among the nations evaluating similar rules to improve safety. "With limitation for growth infrastructure there is a strong need to depend on technology to address challenges," the panel said in its report. The United States estimates introducing V2X connected vehicle technology could prevent at least 600,000 crashes a year.

Persons: Francis Mascarenhas, Bharat, V2X, Munsif, Aditi Shah, Aditya Kalra, Clarence Fernandez Organizations: REUTERS, Reuters, Reliance, Samsung, Qualcomm, Mahindra & Mahindra, Mahindra, carmakers, United, Thomson Locations: New Delhi, India, China, Europe, USA, DELHI, Indian, United States, Bengaluru

☆ 'Overhyped' generative AI will get a 'cold shower' in 2024, analysts predict
▼ + stars: | 2023-10-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The main forecast CCS Insight has for 2024 is that generative AI "gets a cold shower in 2024" as the reality of the cost, risk and complexity involved "replaces the hype" surrounding the technology. "But the hype around generative AI in 2023 has just been so immense, that we think it's overhyped, and there's lots of obstacles that need to get through to bring it to market." Companies have to acquire high-powered chips to run AI applications. In the case of generative AI, it's often advanced graphics processing units, or GPUs, designed by U.S. semiconductor giant Nvidia that large companies and small developers alike turn to to run their AI workloads. "Just the cost of deploying and sustaining generative AI is immense," Wood told CNBC.

Persons: Ben Wood, Wood, Google Bard, Anthropic's Claude, it's Organizations: Artificial Intelligence, CCS Insight, Google, Qualcomm, Meta, CNBC, Companies, Nvidia, Amazon Locations: Shanghai, U.S

☆ Generative AI needs tools to avoid copyright infringement, Databricks' Naveen Rao says — or more companies could meet Napster's fate
▼ + stars: | 2023-10-10 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Naveen Rao is VP of Generative AI at Databricks and co-founder of LLM-training platform MosaicML. Rao says copyright infringement could prevent companies from successfully monetizing AI. Rao, who oversees generative AI strategy for Databricks after it bought his startup MosaicML for $1.3 billion, likens it to the issue that crushed Napster, the 2000s-era music-sharing platform. "We build tools that enable companies to differentiate their AI from everyone else's and leverage their data uniquely," Rao told Insider. The more people building generative AI technology the better, Rao says.

Persons: Naveen Rao, Rao, —, ChatGPT, Jodi Picoult, George R.R, Martin, OpenAI, he's Organizations: Service, Napster, Apple, iTunes, Thrones, Metallica, Qualcomm, Intel

☆ These stocks are looking mighty cheap going into earnings season
▼ + stars: | 2023-10-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The third-quarter earnings season is set to kick off this week, with certain stocks trading at attractive valuations. Going into earnings, 76 companies in the S & P 500 have already issued negative earnings per share guidance for the third quarter, compared to 42 companies that have announced positive earnings per share guidance, FactSet data shows. With this in mind, CNBC Pro screened for stocks with growing earnings that are also trading at a discount. Growing earnings: Earnings per share have grown more than 20% over the past 12 months. The company's trailing 12 months P/E ratio is 6.3, significantly lower than the five-year average P/E of 22.61.

Persons: — CNBC's Michael Bloom Organizations: Delta Air Lines, Infosys, JPMorgan Chase, Citigroup, PNC Financial Services, Wells, CNBC Pro, Major U.S, Delta, United Airlines, Devon Energy, Semiconductor, Qualcomm Locations: Blackrock, Oil, Monday's, Israel

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. ET, Dow e-minis were down 152 points, or 0.45%, S&P 500 e-minis were down 24.25 points, or 0.56%, and Nasdaq 100 e-minis were down 109.5 points, or 0.72%. Traditional safe-haven assets including gold and the U.S. dollar gained, while growing uncertainty pushed crude prices higher. The Nasdaq (.IXIC) and the S&P 500 (.SPX) posted weekly gains on Friday as mixed jobs reports kept investors on edge around the Federal Reserve's interest rate outlook. Tesla (TSLA.O) shed 1.7% as data showed the company's China-made EV sales volume for September decreased 10.9% from a year ago.

Persons: Brendan McDermid, Tesla, Lloyd Austin, Stuart Cole, Northrop, Lockheed Martin, Philip Jefferson, Michael Barr, Nelson Peltz's, Shashwat Chauhan, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Nvidia, Big Tech, U.S, Israel, Dow, Nasdaq, Hamas, . Defense, Dow e, U.S ., Equiti, Energy, Chevron, Exxon Mobil, Occidental Petroleum, United Airlines, Delta Air Lines, American Airlines, Barrick Gold, Northrop Grumman, General Dynamics, Lockheed, Columbus Day, Apple, Intel, Qualcomm, Devices, JPMorgan Chase, Citigroup, BlackRock, Management, Thomson Locations: New York City, U.S, China, Israel, Palestinian, Gaza, United States, Tel Aviv, Wells Fargo, Bengaluru

☆ RISC-V group says restrictions on open technology would slow innovation
▼ + stars: | 2023-10-09 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

The comments come after Reuters last week reported that a growing group of U.S. lawmakers are calling on the Biden administration to impose export control restrictions around RISC-V, the open-source technology overseen by the RISC-V International nonprofit foundation. RISC-V technology can be used as an ingredient to create chips for smartphones or artificial intelligence. In a blog post, Calista Redmond, chief of RISC-V International, which coordinates work among companies on the technology, said RISC-V is no different than other open technology standards like Ethernet, which helps computers on the internet talk with each other. Redmond wrote that RISC-V has drawn contributions in equal measure from North America, Europe and Asia. "Having access to open standards allows companies to innovate faster and spend their time creating differentiated products, rather than trying to reinvent the wheel."

Persons: Florence Lo, Biden, Calista Redmond, Redmond, Stephen Nellis, Matthew Lewis Organizations: REUTERS, V, Reuters, V International, U.S, Qualcomm, Google, Huawei Technologies, Arm Holdings, San, Thomson Locations: U.S, North America, Europe, Asia, San Francisco

At issue is RISC-V, pronounced "risk five," an open-source technology that competes with costly proprietary technology from British semiconductor and software design company Arm Holdings (O9Ty.F). RISC-V can be used as a key ingredient for anything from a smartphone chip to advanced processors for artificial intelligence. The RISC-V technology came from labs at the University of California, Berkeley, and later benefited from funding by the Pentagon's Defense Advanced Research Projects Agency (DARPA). Its executives said in August they believe RISC-V will speed up chip innovation and transform the tech industry. Jack Kang, vice president of business development at SiFive, a Santa Clara, California-based startup using RISC-V, said potential U.S. government restrictions on American companies regarding RISC-V would be a "tremendous tragedy."

Persons: Florence Lo, Joe Biden's, Marco Rubio, Mark Warner, Mike Gallagher, Biden, Michael McCaul, McCaul, " Rubio, Warner, Jack Kang, Kang, Kevin Wolf, Akin Gump, Barack Obama, Wolf, Max A, Cherney, Stephen Nellis, Will Dunham, Kenneth Li Organizations: REUTERS, U.S ., Arm Holdings, Republican, Democratic, Reuters, Commerce Department, People's, CCP, Chinese Communist Party, House Foreign Affairs, of Industry, Security, Commerce, University of California, Pentagon's Defense, Research Projects Agency, DARPA, HUAWEI, Huawei Technologies, Qualcomm, Google, Thomson Locations: China, U.S, Beijing, People's Republic of China, Communist China, Swiss, Berkeley, United States, SiFive, Santa Clara , California, San Francisco

☆ Startups are hitting a road block when selling their AI to big companies. Investors and founders explain how to get around it.
▼ + stars: | 2023-10-04 | by ( Meghan Morris | ) www.businessinsider.com time to read: +5 min

The procurement team, responsible for sourcing and pricing the services the company buys, can introduce significant barriers to enterprise startups. Sellers must navigate a thicket of data concerns and increasing price sensitivities, among other issues, with procurement teams that may have little familiarity with AI. Enterprise software deals are taking longer to close compared with last year, per a September survey from New York-based SAAS financing startup Capchase. "That's leading procurement teams to ask sellers 'what works here, tell me where I could have unanticipated outcomes?'" Nemeth said procurement teams want to be educated and help see deals through.

Persons: Samir Kumar, Kumar, Barack Obama, Obama, Reuters Kumar, Obama's, Miguel Fernandez Larrea, Fernandez Larrea, Tola, Sheila Gulati, Charles Cotugno Gulati, Rachael Nemeth, Nemeth Organizations: Microsoft, Qualcomm, Touring Capital, Companies, White House, Reuters, Enterprise, Vanderbilt University Locations: United States, New York

☆ UK's CMA says examining Qualcomm's buyout of Israel's Autotalks
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Autotalks and Qualcomm logos are seen in this illustration taken, May 8, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsCompanies Autotalks Ltd FollowQualcomm Inc FollowSept 29 (Reuters) - Britain's antitrust regulator on Friday said it was examining whether Qualcomm's (QCOM.O) purchase of Israeli auto-chip maker Autotalks would lessen competition in the UK market. Qualcomm had said it would acquire Autotalks, a maker of chips used in crash-prevention technology in vehicles, but had not disclosed the terms of the deal. Autotalks, which makes dedicated chips used in the V2X communications technology sector for manned and driverless vehicles, would help Qualcomm expand its automotive business. Qualcomm and Autotalks did not immediately respond to Reuters' request for comment.

Persons: Dado Ruvic, Autotalks, Eva Mathews, Rashmi Aich, Dhanya Ann Thoppil Organizations: Qualcomm, REUTERS, Markets Authority, Politico, U.S . Federal Trade Commission, Reuters, Thomson Locations: Bengaluru

☆ Meta announces new Quest 3 VR headset as Apple competition looms
▼ + stars: | 2023-09-27 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Meta announced Quest 3, a sequel to the bestselling VR headset of all time, on Wednesday. Other improvements include "pancake lenses," a kind of optic first used on Meta's $1,499 Quest Pro that make images sharper and allows for higher resolution. The release of Meta's latest VR headset comes as a battle looms with Apple in virtual reality. Its Quest 2 is by far the bestselling VR headset, with nearly 10 million units sold last year, slightly down from a pandemic peak, according to an industry estimate. Apple's Vision Pro headset won't go on sale until next year, and costs significantly more than Meta's headsets, starting at $3,499.

Organizations: Meta, Qualcomm, Apple, Facebook, VR, Reality Labs

☆ Meta Connect: All the details on Quest 3, Ray-Ban smart glasses, AI chatbots
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Meta CEO Mark Zuckerberg delivers a speech, as a pair of Ray-Ban smart glasses appear on screen, during the Meta Connect event at the company's headquarters in Menlo Park, California, U.S., September 27, 2023. AI CHATBOTS, STICKERSMeta unveiled more than two dozen chatbots that will work within its social media applications. The company announced Meta AI Studio, a platform for developers to build custom AI chatbots. RAY-BAN SMART GLASSESMeta announced new generation Ray-Ban smart glasses, priced at $299. The smart glasses will also have Meta AI built in, with the ability to give information on the item a user is looking at.

Persons: Mark Zuckerberg, Carlos Barria, Snapdragon, Meta, Microsoft's Bing, Bear Grylls, Chloe Kim, Josh Richards, RAY, Yuvraj Malik, Shounak Dasgupta Organizations: Meta, REUTERS, Gaming, Facebook, United States, Thomson Locations: Menlo Park , California, U.S, WhatsApp, United, Bengaluru

☆ Microsoft technology chief says supply of Nvidia's AI chips is improving
▼ + stars: | 2023-09-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

"Demand was far exceeding the supply of GPU capacity that the whole ecosystem could produce," Scott told the Verge's Nilay Patel. Microsoft, like Google and other tech companies, has been quickly adding generative AI to its own products and selling the technology's capabilities to clients. Training and deploying the underlying AI models has mainly relied on Nvidia's GPUs, creating scarcity of supply. Nvidia expects to increase supply each quarter through next year, finance chief Colette Kress told analysts on last month's earnings call. Traffic to ChatGPT has declined month over month for three consecutive months, Similarweb said in a blog post.

Persons: Nilay Patel, Kevin Scott, Scott, OpenAi, we've, Patel, that's, Colette Kress, Similarweb, I'm, Doug Clinton Organizations: The Ritz, Carlton Laguna, Microsoft, Nvidia, Training, Qualcomm, PCs Locations: Dana Point , California, OpenAI

Qualcomm has denied any wrongdoing and had asked the judge to reject the consumers' claims. The consumers' case was in Corley's court following a 9th Circuit ruling in 2021 that struck down an order certifying a nationwide consumer class action. In January, Corley dismissed core antitrust elements of the plaintiffs' claims but let the case move forward. The consumers' lawyers told Corley that "Qualcomm turns a blind eye to the massive evidentiary record" backing the consumers' allegations of exclusive dealing. The case is In re: Qualcomm Antitrust Litigation, U.S. District Court, Northern District of California, No.

Persons: Dado Ruvic, Jacqueline Scott Corley, Corley, Joseph Cotchett, Kalpana Srinivasan, Susman Godfrey, Robert Van, Van, Gary Bornstein, Richard Taffet, Morgan, Lewis, Bockius Read, Mike Scarcella, Leigh Jones Organizations: Qualcomm, REUTERS, Tuesday, U.S, Apple, U.S . Federal, Circuit, Qualcomm Antitrust Litigation, Court, Northern District of, McCarthy, Thomson Locations: California, San Francisco, San Diego, Northern District, Northern District of California, Cotchett, Pitre, U.S

☆ AI chip firm Kneron raises $49 million as it looks to rival Nvidia, with Foxconn among backers
▼ + stars: | 2023-09-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The company said it raised an additional $49 million, bringing its total round of funding to to $97 million. Taiwanese giant Foxconn , the company that assembles Apple's iPhones, and Alltek, a communications tech company, were among the investors in the round. In contrast, Kneron designs a chipset that goes into devices like consumer electronics and cars that allow AI on the "edge." "So that will force people to switch into the more low cost (NPUs)," Liu said. Kneron has no shortage of competitors from giants like Qualcomm and MediaTek — which are aiming for on-device AI with their chips — and startups developing AI semiconductors.

Persons: Albert Liu, Harry Murphy, Nvidia's, CNBC's, Liu, Kneron, Foxconn Organizations: Sportsfile, Getty, Nvidia, Qualcomm, Vedanta, Manufacturing Locations: U.S, Kneron, India

☆ iPhone 15 Pro analysis unveils Qualcomm modem and easier-to-repair smartphone frame
▼ + stars: | 2023-09-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Apple's iPhone 15 Pro and iPhone 15 Pro Max have a new frame design, which could make repairing the devices' screens or swaps of their batteries easier, according to a teardown analysis by iFixit, a parts vendor and gadget-repair advocate. That's in part because Apple uses software to lock parts to specific devices, making independent fixes more difficult or near impossible. Last year's mainstream model of the iPhone 14 — not the pricier Pro — also had a design featuring removable back glass. It requires manufacturers such as Apple to make rental tools, repair guides and authorized parts available to users to repair devices at home. In 2022, Apple introduced Self Service Repair, which allows repair shops and end users to rent professional-level repair tools and buy replacement parts from Apple.

Persons: Max, iFixit, Pro Max, — Organizations: Apple, Pro, Qualcomm Locations: California

☆ Renault to maintain mixed ethanol combustion engines in Brazil
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "It still pays to invest in combustion in Brazil," top executive Ricardo Gondo said at an event, adding that the industry will need more federal incentives to accelerate its EV transition. Renault is planning to launch Brazilian sales of an electric version of its French-made Kangoo van in October, when it will also launch its Kardian combustion engine SUV, set to be manufactured locally. Earlier this month, Renault CEO Luca de Meo warned a "very competitive" industry in China and that it will need to "catch up fast". ($1 = 4.9256 reais)Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Sarah Morland and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ricardo Gondo, Gondo, van, JAC, Luca de Meo, Luiz Inacio Lula da Silva, Jair Bolsonaro, Alberto Alerigi Jr, Carolina Pulice, Sarah Morland, Marguerita Choy Organizations: Renault, Viva Technology, Porte de, REUTERS, SAO PAULO, EV, Wall Motor Co, Chery, Qualcomm, Nissan, Brazilian, Thomson Locations: Porte, Paris, France, Brazil, French, Parana, China

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. 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. The group went on to advise other major technology companies including Cisco, Qualcomm Inc (QCOM.O) and Twilio Inc (TWLO.N).

Persons: Centerview Partners dealmakers, David Handler, David Neequaye, Qatalyst, Morgan Stanley, MS.N, Splunk, David, Handler, we've, Chuck Robbins, Tidal's, Neequaye, Centerview, Milana Vinn, Anirban Sen Organizations: Centerview Partners, Cisco Systems Inc, Splunk Inc, Cisco, Qatalyst Partners, AXOM Partners, Reuters, Qualcomm Inc, Twilio Inc, UBS Group AG, Thomson Locations: Palo Alto , California, New York

☆ Apple's iPhone 15 is missing a chip that the company spent billions developing, report says
▼ + stars: | 2023-09-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Apple launched the iPhone 15 and iPhone 15 Pro at its "Wonderlust" event last week. The phones lack a silicon chip the company developed for years, the WSJ reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Apple launched the iPhone 15 and iPhone 15 Pro at its "Wonderlust" event last week. Apple had been trying to develop the chip to reduce its reliance on its supplier, Qualcomm, the Journal reported.

Persons: Apple Organizations: Apple, Service, Street Journal, Qualcomm, FT Locations: Wall, Silicon

☆ US venture firm GGV Capital to separate China business amid geopolitical tension
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Sept 21 (Reuters) - U.S. venture capital firm GGV Capital said on Thursday it plans to split its business into two, with one focused on Asia and the other on the U.S., as political pressure mounts on American companies to limit investments in Chinese technology. This comes after Sequoia Capital in June said it is splitting its businesses in China as well as India and Southeast Asia into two independent firms. Venture capital firm GGV said the separation of its Singapore arm that would solely focus on investing in China is expected to finish by the first quarter of next year. GGV Capital, which has around $9 billion in assets under management, has backed companies such as Airbnb, ByteDance and Alibaba to establish itself as a cross-border venture capital company. China-focused firms only raised $5.5 billion in U.S. dollar-denominated funding in the first half of the year, Preqin data showed, a far cry from its peak of $27.6 billion raised in the same period in 2021.

Persons: GGV Capital, GGV, Alibaba, Seher, Shweta Agarwal Organizations: GGV, Sequoia Capital, U.S, Wall Street Journal, GSR Ventures, Walden International, Qualcomm Ventures, Venture, ., Thomson Locations: Asia, China, India, Southeast Asia, Singapore, Bengaluru

☆ Cisco working with M&A firm Tidal to acquire cybersecurity firm Splunk in $28 billion deal
▼ + stars: | 2023-09-21 | by ( ) edition.cnn.com time to read: +1 min

A new mergers and acquisitions advisory firm launched last year by former Centerview Partners dealmakers has scored a big win by advising Cisco Systems on its $28 billion acquisition of cybersecurity firm Splunk. Based in Palo Alto, California, Tidal Partners was started by technology bankers David Handler and David Neequaye. “We’ve known David (Handler) and his partner David (Neequaye) for a very long time. Handler 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 and Twilio.

Persons: Centerview Partners dealmakers, David Handler, David Neequaye, Qatalyst, Morgan Stanley, Splunk, Handler, “, David, we’ve, Chuck Robbins, Tidal’s, Neequaye, Bloom, Centerview Organizations: Centerview Partners, Cisco Systems, Tidal Partners, Cisco, Qatalyst Partners, NDS Group, AXOM Partners, Reuters, Qualcomm Inc, G2K, UBS Group Locations: Palo Alto , California, Centerview

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