Merger and acquisition activity in the third quarter continued at a relatively brisk pace in Q3 as tech companies drove consolidation. But while the deals helped lined the pockets of Silicon Valley investors, executives and engineers, the wave of deal activity has also been a boon for one of New York's most prolific law firms.
The technology sector continued to see vigorous M&A activity in the third quarter, with 51 deals of $100 million or more announced, according to Dealogic. That was good news for a number of law firms, though the biggest winner may well have been Wachtell, Lipton, Rosen & Katz even though the New York firm does not have an office in Silicon Valley.
Wachtell's Mark Gordon advised Analog Devices (ADI) on its $14.8 billion agreement to combine with Linear Technology (LLTC) , while Andrew Brownstein and Benjamin Roth represented Hewlett-Packard Enterprise (HPE) on its $8.8 billion deal to sell non-core software assets to Micro Focus International (MCRO) . Brownstein and Roth helped Hewlett-Packard Co. on its split last year into HP Enterprise and HP (HPQ) .
The firm, which ranked No. 4 on The Deal's third quarter M&A league tables, also landed a role in the highest-profile tech deal of the quarter, if not the richest. Martin Lipton, Daniel Neff and Steven Rosenblum represented Verizon Communications (VZ) on its $4.83 billion agreement to buy Yahoo!'s (YHOO) operating businesses. Wachtell had advised the telecom giant on its $130 billion purchase of the 45% interest in Verizon Wireless owned by Vodafone (VOD) in 2014.