Morgan Stanley Technology Group Ranked No. 1 in 1997; Leads Industry in Technology M&A, Financings and Research
Business Wire - January 12, 1998 09:18
%MORGAN-STANLEY MWD %CALIFORNIA %NEW-YORK %BANKING %COMPUTERS %ELECTRONICS %COMED V%BW P%BW
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SAN FRANCISCO--(BUSINESS WIRE)--Jan. 12, 1998--Morgan Stanley's Technology Group announced today its transaction highlights for 1997, a year in which it maintained the No. 1 position in technology M&A, financings and research.
Highlights for the year include:
Mergers & Acquisitions: (1) Morgan Stanley maintained its position
as the leading advisor in technology mergers and acquisitions, with
more than $27.5 billion in transactions announced or completed over
the course of the year. Morgan Stanley's M&A team advised clients in
transactions that redefined industries and positioned established
market leaders to take advantage of emerging opportunities. Morgan
Stanley represented the following clients in significant transactions:
-- US Robotics in its $8.9 billion merger with 3Com -- Cascade Communications in its $2.9 billion merger with Ascend Communications -- Compaq Computer in its $2.7 billion acquisition of Tandem Computers -- Amdahl in its $1.5 billion acquisition by Fujitsu -- Hewlett-Packard in its $1.2 billion acquisition of VeriFone -- Livingston in its $650 million acquisition by Lucent
Financings: (1) In 1997, Morgan Stanley ranked No. 1 in technology initial public offerings, lead-managing offerings with an aggregate value of more than $1.5 billion, including:
-- Rambus, the best performing IPO of 1997
-- J.D. Edwards, the largest technology IPO of 1997
-- @Home Network, the largest Internet IPO of 1997
Morgan Stanley also maintained the No. 1 position in technology equity-related and debt transactions, lead-managing more than $7 billion for technology leaders including Advanced Fibre Communications, Applied Materials, Arrow Electronics, Dassault Systemes, IBM, Oracle, SAP, Seagate and Silicon Graphics. Research: Institutional Investor's 1997 All-America Research survey released in October named Morgan Stanley's technology research team No. 1. In addition to winning the first-ever team award for overall excellence in technology research, eight of the technology group's analysts were named to the All-America Research team, more than any other firm. Morgan Stanley also solidified its position internationally with six total positions in Europe, Non-Japan Asia and Japan. Morgan Stanley's 14 total positions led all global technology research teams. "We'd like to thank our clients for allowing us to help them achieve their strategic and financing goals in 1997," said Jim Liang, co-head of the Global Technology Group. "In 1998, we look forward to continuing our tradition of assisting clients in the realization of their strategic ambitions by harnessing the power of Morgan Stanley's investment banking expertise and leading edge research." Morgan Stanley, Dean Witter, Discover & Co. (NYSE:MWD) is a global financial services firm and a market leader in securities, asset management, and credit and transaction services. The company has offices in New York, London, Tokyo, Hong Kong, and other principal financial centers around the world and has 390 securities branch offices throughout the United States.
1997 Technology Year-End Tables (1,2)
Technology Initial Public Offerings
1. Morgan Stanley $1,543
2. BancAmerica Robertson Stephens $431
3. NationsBanc Montgomery Securities $411
4. Goldman, Sachs $365
5. Lehman Bros. $345
6. Hambrecht & Quist $263
7. BT Alex. Brown $185
8. Salomon/Smith Barney $147
9. DMG $127
10. Cowen $127
All Technology Financings(3)
1. Morgan Stanley $7,195
2. Goldman, Sachs $6,390
3. BT Alex. Brown $2,319
4. Merrill Lynch $2,272
5. Salomon/Smith Barney $1,774
6. CS First Boston $1,633
7. BancAmerica Robertson Stephens $1,284
8. DMG $1,184
9. NationsBanc Montgomery Securities $1,003
10. DLJ $826
Technology Mergers & Acquisitions
1. Morgan Stanley $27,646
2. Goldman, Sachs $18,189
3. DMG $13,469
4. Lehman Bros. $7,240
5. Salomon/Smith Barney $5,688
6. Bear, Stearns $4,831
7. BT Alex. Brown $4,523
8. Hambrecht & Quist $4,459
9. Merrill Lynch $2,680
10. BancAmerica Robertson Stephens $1,159
Note to Editors: (1) Source: Securities Data Corporation (2) Full credit given to lead manager (3) Equity Financing includes IPOs, debt, convertibles, and secondary equity transactions
CONTACT: Edelman Worldwide
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