These 5 advisors wrote the tech M&A playbook

George Boutros, renowned for his sharp intellect and negotiation skills, stands as a towering figure in tech M&A. His partnership with Frank Quattrone at Qatalyst Partners positioned him at the forefront of several major deals in the early days of tech banking history. His heavy-handed approach redefined the industry’s understanding of negotiation strategy.

Boutros challenged the conventional wisdom of M&A as a zero-sum game, prioritizing his client’s interests above all else. His unwavering focus on maximizing value, coupled with his intense negotiation style, earned him a reputation as a force to reckon with — even if it meant sacrificing personal popularity. He mentored future M&A leaders Jason DiLullo and Storm Duncan, leaving an enduring legacy that extends beyond individual deals, further spreading the widespread impact of his disruptive strategic approach to banking strategy.

The landmark sale of Motorola to Google in 2011 exemplifies Boutros’s ability to generate exceptional outcomes. He showed his skill in making deals by getting a 63% higher price for a declining asset, demonstrating his mastery of deal-making — and the success that a firm stance can yield when executed with unwavering commitment.

While undeniably benefiting from the prestige of Goldman Sachs, Sam Britton has carved out his own distinct reputation as a leading figure in tech M&A despite his seat at one of the world’s leading investment banking brands. He has steadily risen through the ranks since joining the firm in 1997, culminating in his current role as co-head of the global technology group.

Britton’s expertise has been instrumental in some of the most significant tech deals in recent years, including Slack’s $27.7 billion sale to Salesforce, as well as Salesforce’s acquisition of Tableau for $15.7 billion. His ability to consistently deliver for clients, coupled with his deep understanding of the evolving tech landscape, has positioned him as a trusted advisor to industry leaders in the sector.

Britton’s success within the powerhouse that is Goldman Sachs is a testament to his individual capabilities. He has not only navigated the complexities of the firm’s culture, but thrived within it. This has helped him establish himself as a prominent figure who stands out even amongst the industry’s elite. His career trajectory serves as an important reminder of the potential impact of combining individual talent with the resources of a leading institution.

Jason DiLullo, President of Qatalyst Partners, stands out as a leading expert in semiconductor M&A, a testament to his unwavering dedication to the technology sector at its very core. While others chased fleeting trends, DiLullo cultivated a deep understanding of the niche chip industry, becoming a trusted advisor for major players navigating transformative transactions.

His approach is characterized by a rare combination of expertise and affability. In a field often dominated by abrasive personalities, DiLullo’s ability to secure exceptional outcomes for clients while maintaining positive relationships sets him apart. The recent Matterport deal, which included a staggering 150% premium, exemplifies his skill in negotiating and structuring deals that deliver unparalleled value.

DiLullo’s presence at Qatalyst, alongside fellow industry titan George Boutros, underscores the firm’s profound impact on tech M&A since its inception. His extensive experience, spanning over 30 years and encompassing over 100 transactions worth approximately $300 billion, solidifies his position as a master of semiconductor M&A and a key figure shaping the future of the industry.

A decades-long partner of George Boutros and Jason DiLullu, Storm Duncan has shaped the tech industry and M&A sector in numerous ways.  Prior to founding his current technology advisory firm, Ignatious, Duncan led M&A at Boutros’ former firm during its long run as a number one ranked technology M&A bank.

During this tenure, he worked as Google’s lead advisor, including representing them on DoubleClick and YouTube, widely believed to be the largest returning acquisition of all time (and both deals have ranked in the top 10 M&A deals throughout history).

Duncan later turned around Jefferies’ struggling Technology business, leading it to a top ranking in less than six years.  He sold Careem to Uber for $3.5 billion — which captured the M&A Atlas Award for deal of the year — sold Lycos for $12.5 billion, sold MySQL to Sun, and then sold Sun to Oracle, amongst other notable deals.

In an industry known for its lack of creativity and forward thinking, Duncan has carved out a reputation for identifying long term trends and the companies that will benefit. He then structured creative transactions around those trends.

Notably, while the others continue their focus on the high profile multi-billion dollar transactions that build their own reputation, Duncan is the only member of this elite class who now uses his expertise and extensive relationships to advise the next generation of emerging growth technology companies.

Fred Turpin, the Global Head of Media and Communications Investment Banking at JPMorgan, has played a pivotal role in the firm’s precipitous rise within the tech M&A landscape. Over the past two decades, he has spearheaded numerous high-profile deals, including the WarnerMedia spin-off from AT&T and the Sprint merger with T-Mobile, cementing his position as a leading rainmaker in the industry.

Turpin’s contributions extend beyond individual transactions. His leadership and expertise have been instrumental in elevating JPMorgan’s tech M&A practice from relative obscurity to a top-tier competitor alongside established giants like Goldman Sachs and Morgan Stanley. By leveraging the firm’s robust balance sheet and significant investments in technology, Turpin has successfully positioned JPMorgan as a major player in deals exceeding $5 billion.