Morgan Stanley Dean Witter Technology Group Again Leads the Field in 2000
dowjones.work.com
Thursday January 4 6:30am
Source: Dow Jones
NEW YORK--(BUSINESS WIRE)--Jan. 4, 2001--
Record Volume and Performance Confirms No. 1 Position in
Technology M&A, Capital Raising and Research
Morgan Stanley Dean Witter's Technology Group released today its 2000 transaction highlights, including 162 deals totaling over $461.7 billion in value, once again ranking the group first among all banks in global technology M&A and capital-raising. The Technology Group achieved a number of significant milestones in 2000, including the year's best average global technology IPO aftermarket price performance among major banks, the year's best-performing technology IPO (Quantum Effect Devices), and serving as the leading financial advisor for the most significant global industrial B2B exchanges formed during the year. In addition, the global technology research team was ranked number one for the fifth year running, as determined by Institutional Investor.
Morgan Stanley Dean Witter's 2000 record reflects its continued leadership in working with the highest quality clients, raising capital for these clients despite volatile market conditions, and advising them on M&A transactions that define the industries in which they do business. Specific highlights for 2000 include:
MERGERS & ACQUISITIONS
Morgan Stanley Dean Witter maintained its position as the strategic advisor of choice in technology mergers and acquisitions worldwide. During 2000, the Technology Group announced or completed 89 transactions worth over $426.8 billion, and it participated in five out of the year's ten largest transactions and in 41 transactions with values of $1 billion or greater.
"Technology companies are increasingly looking to mergers and acquisitions as a means to expand product lines, increase customer reach, and maintain the liquidity necessary to grow their businesses," said Chuck Cory, Managing Director and Worldwide Head of Morgan Stanley Dean Witter's Technology M&A practice. "We are proud that more than half of the largest, industry-defining transactions this year were handled by the Morgan Stanley Dean Witter technology team. These transactions included the biggest M&A deal in history, Time Warner/AOL; one of the most complicated technology deals of all time, Seagate/Veritas; and the largest pure-play Internet merger to date, VeriSign/Network Solutions."
Morgan Stanley Dean Witter represented the following clients in these significant transactions:
Internet/Internet Infrastructure (total: $270.5 billion)
-- Time Warner in its $181.6 billion sale to America Online
-- Tin.it (Italy) in its $18.7 billion sale to Seat Pagine Gialle
-- VeriSign in its $21.0 billion acquisition of Network Solutions
-- USWeb/CKS in its $7.2 billion sale to Whittman-Hart
-- GlobalCenter in its $6.2 billion pending sale to Exodus
Communications
-- Lycos in its $5.6 billion sale to Terra Networks
-- British Telecom (UK) in its $5.0 billion acquisition of AT&T
worldwide assets
-- InfoSpace in its $4.5 billion acquisition of Go2Net
-- Healtheon/WebMD in its $2.5 billion acquisition of Envoy
-- Akamai Technologies in its $2.4 billion acquisition of InterVU
-- Wanadoo (France) in its $2.3 billion pending acquisition of
Freeserve
-- Healtheon/WebMD in its $2.0 billion acquisition of Medical
Manager
-- Healtheon/WebMD in its $1.9 billion acquisition of CareInsite
-- ZDNet in its $1.6 billion sale to CNET
-- HomeGrocer.com in its $1.6 billion sale to Webvan
-- TransPoint in its $1.2 billion sale to CheckFree Holdings
-- Homestore.com in its $762 million pending acquisition of
Move.com
-- Travelocity.com in its $664 million acquisition of Preview
Travel
-- Spray Network AB (Sweden) in its $579 million sale to Lycos
Europe NV
-- Jupiter Communications in its $429 million merger with Media
Metrix
-- Covad Communications in its $388 million acquisition of
LaserLink
-- FreeMarkets in its $340 million acquisition of iMark.com
-- Indice Multimedia (Spain) in its $323 million pending sale to
Wanadoo
-- Ventro in its $306 million acquisition of Promedix.com
-- Healtheon/WebMD in its $300 million acquisition of Kinetra
-- Visual Communications (UK) in its $220 million sale to Getty
Images
-- Iobox (Finland) in its $215 million sale to Terra Mobile
-- Voyager.net in its $195 million sale to CoreComm
-- Pacific Century CyberWorks (China) in its $185 million
acquisition of Jaleco
-- Investor Group in its $127 million pending acquisition of
CareerBuilder
-- Ventro in its $116 million acquisition of SpecialtyMD.com
-- Lastminute.com (UK) in its $89 million acquisition of
Degriftour
-- FreeMarkets in its acquisition of Surplus Record
-- InsurQuote Systems in its sale to ChannelPoint
Communications Equipment (total: $90.0 billion)
-- BCE (Canada) in its $61.7 billion spin-off of 94% of its
Nortel Networks holdings
-- Newbridge Networks (Canada) in its $6.5 billion sale to
Alcatel
-- Lucent Technologies in its $5.4 billion spin-off of Avaya
Communication
-- Equant (Netherlands) in its $3.8 billion pending acquisition
of Global One from France Telecom
-- Sycamore Networks in its $2.9 billion acquisition of Sirocco
Systems
-- CIENA in its $2.6 billion pending acquisition of Cyras Systems
-- Clarify in its $1.8 billion sale to Nortel Networks
-- SnapTrack in its $1.0 billion sale to Qualcomm
-- Altitun (Sweden) in its $872 million sale to ADC
Telecommunications
-- Riverbed Technologies in its $805 million sale to Aether
Systems
-- Allgon (Sweden) in its $487 million pending sale to Remec
-- Exalink (Israel) in its $480 million sale to Comverse
Technology
-- Architel Systems (Canada) in its $346 million sale to Nortel
Networks
-- Polycom in its $337 million pending acquisition of Accord
Networks
-- InterNAP in its $244 million acquisition of CO Space
-- Alcatel (France) in its $175 million acquisition of Innovative
Fibers
-- CAIS Internet in its $170 million pending sale of its Software
Solutions to Cisco Systems
-- Call-Net Enterprises (Canada) in its $163 million pending sale
of its excess fiber optics capacity to 360Networks
-- Raychem Access Network in its $90 million pending sale to
Terayon Communication Systems
-- Avanex in its $75 million acquisition of Holographix
-- Copper Mountain Networks in its $75 million acquisition of
OnPrem Networks
Software (total: $41.0 billion)
-- Seagate Technology in its $17.7 billion merger with Veritas
Software
-- Software.com in its $5.9 billion merger with Phone.com, now
Openwave Systems
-- Computer Associates in its $3.4 billion acquisition of
Sterling Software
-- Octane Software in its $3.2 billion sale to E.piphany
-- Vignette in its $2.5 billion acquisition of OnDisplay
-- Ariba in its $1.9 billion acquisition of Tradex Technologies
-- Visio in its $1.3 billion sale to Microsoft
-- webMethods in its $1.3 billion acquisition of Active Software
-- Solect Technology (Canada) in its $1.0 billion sale to Amdocs
-- Agilent Technologies in its $706 million pending acquisition
of Objective Systems Integrators
-- Broadbase Software and ServiceSoft in Broadbase's $567 million
pending acquisition of ServiceSoft
-- CyBerCorp in its $488 million sale to Charles Schwab
-- Digital Insight in its $444 million acquisition of nFront
-- Ariba in its $400 million acquisition of TradingDynamics
-- Unigraphics Solutions in its $159 million acquisition of
Engineering Animation
Semiconductors (total: $12.3 billion)
-- Texas Instruments in its $6.9 billion acquisition of
Burr-Brown
-- Quantum Effect Devices in its $2.0 billion sale to PMC-Sierra
-- Applied Materials in its $1.8 billion acquisition of Etec
Systems
-- STEAG Electronics (Germany) in its $468 million pending sale
of its Semiconductor Division to Mattson Technology
-- LSI Logic in its $420 million acquisition of DataPath Systems
-- Francisco Partners in its $375 million majority investment in
Legerity
-- Microchip Technology in its $193 million pending acquisition
of Telcom Semiconductor
-- NVidia in its $107 million pending acquisition of 3dfx's core
graphics assets o Xilinx in its acquisition of RocketChips
Hardware (total: $6.7 billion)
-- NatSteel Electronics (Singapore) in its $2.6 billion sale to
Solectron
-- Seagate Technology in its $2.0 billion sale of its disc
business to an Investor Group o Hadco in its $1.3 billion sale
to Sanmina
-- Siemens AG (Germany) in its $756 million spin-off of its
Nixdorf retail and banking systems unit
-- Thomas & Betts in its $750 million sale of its OEM Division to
Tyco International
IT Services (total: $6.3 billion)
-- AMR in its $4.8 billion spin-off of Sabre Holding
-- Diamond Technology Partners in its $1.0 billion acquisition of
Cluster Consulting
-- Breakaway Solutions in its $259 million acquisition of Eggrock
Partners
-- First Data Corp in its $135 million sale to iFormation Group
-- Siemens (Germany) in its $105 million acquisition of Entex
Information Services
IPOS
In 2000, Morgan Stanley Dean Witter successfully completed 30 lead-managed IPOs, raising $9.5 billion.
"Morgan Stanley Dean Witter continues to be the lead manager of choice for the top companies in all sectors of technology. We also continue to reinforce our global commitment to the technology industry, as demonstrated by the number of internationally-based companies we represented this year," said Dhiren Shah, Managing Director and Head of Morgan Stanley Dean Witter's Global Technology Group. "Worldwide, our clients' successes confirm our longstanding belief that companies with great management teams, valuable products, and well-defined market opportunities can go public in any market environment." |
