Telecom and media companies could face the perfect storm of M&A, as a new regulatory regime and broad shifts in technology could lead to major transactions that cross industries in the coming year. A Trump administration would presumably be more permissive to major deals than the Obama regime. AT&T’s $85 billion purchase of Time Warner will be a key test case for Trump’s regulators and will send signals to other potential buyers and sellers. Wireless is at the epicenter, as the Internet moves to mobile networks. T-Mobile CEO John Leger has said that beyond the four national carriers, there is “a whole new group leaning against the window trying to get in” to the wireless business. Comcast and Charter are launching mobile service through pacts with Verizon and Sprint, and the longer-term question is whether the two largest cable providers will seek a larger position in the wireless industry.
For all of the anticipation, however, a massive telecom, media and technology mashup is yet to occur. In today’s round table we’ll discuss the forces that could drive the next round of TMT deals—or hold them in check.
Director of Business Strategy, Venue Data Room
Donnelley Financial Solutions
Daniel Perez is Director of Business Strategy for Donnelley Financial Solutions' Venue virtual data room and end-to-end deal solutions suite, with responsibility for the strategic marketing and branding direction for Venue globally. Daniel has been with Donnelley Financial Solutions for 6 years, and prior to joining Donnelley, he worked at both NBC Universal and BBC America in the digital media and marketing divisions in New York. Prior to moving to New York, Daniel worked both as in-house and agency marketing roles in Las Vegas, as well as executive producing a television series for the City of Las Vegas. Mr. Perez holds a Bachelors Degree in Business and Psychology from Pepperdine University and a MBA from the Gabelli Graduate School of Business at Fordham University.
Zelnick Media Capital
Ripan Kadakia joined ZMC in 2014. Mr. Kadakia is responsible for originating, executing and managing investments. Mr. Kadakia currently represents ZMC on the board of Cannella Response Television.Before joining ZMC, Mr. Kadakia was an investment professional in the Technology, Media and Telecommunications group at Warburg Pincus, where he focused on investments in the software, internet, information, business services and education industries. In his time at Warburg Pincus, Mr. Kadakia executed control buyouts and growth investments and also served as a board member or strategic advisor to several portfolio companies.Prior to Warburg Pincus, Mr. Kadakia was an investment professional at Audax Group Private Equity, where he focused on executing investments and operating middle-market companies in a variety of industries. Mr. Kadakia completed ten transactions spanning the manufacturing, distribution, software, healthcare services and financial services industry while at Audax.Mr. Kadakia began his career as a strategy consultant at Oliver Wyman, executing and managing projects in the United States, Africa and the Middle East for a broad range of financial institutions. Mr. Kadakia graduated summa cum laude from the Jerome Fisher Program in Management & Technology from the University of Pennsylvania, earning a BS in Finance and Managing E-commerce from the Wharton School and a BSE in Computer Science and Engineering from the School of Engineering and Applied Science. Mr. Kadakia also earned his MBA from the Wharton School, where he graduated as a Palmer Scholar.
Managing Director & Group Head - Telecommunications, Media & Technology
Lazard Middle Market
Garrett Baker is a Managing Director and Head of the Telecommunications, Media & Technology group at Lazard Middle Market. He has more than 20 years of experience advising TMT companies on mergers and acquisitions, having generated, led and completed more than 90 transactions with an aggregate value in excess of $18 billion. Mr. Baker has deep experience across the TMT industry, including specific expertise with broadband, telecom infrastructure, mobile and digital media companies. Prior to joining Lazard Middle Market, Mr. Baker was President of Waller Capital Partners, where he led Mergers & Acquisitions for cable, telecom and digital media clients and oversaw day-to-day operations of the firm. He joined Waller Capital Partners in 1998 and was named President in 2009. He began his career as a Mergers & Acquisitions banker at Bear Stearns & Co. Mr. Baker was named as a “Top 50 Dealmaker in North America” by Global M&A Network and one of the cable industry’s top “40 Under 40″ executives by MultiChannel News. He advised Wave Broadband on its sale to Oak Hill Capital and GI Partners, which was awarded “Deal of the Year” by M&A Advisor for TMT deals over $500 million in 2014. He is also a member of the Young Presidents’ Organization (YPO). Mr. Baker received a Bachelor of Science degree in Analytical Finance and graduated with honors from Wake Forest University.
Michael A. Maxworthy
Marlin & Associates
Michael (Max) Maxworthy has 18 years of investment banking and private equity experience in advising middle market companies in sectors such as Financial Technology, On-line Databases and Content, Enterprise Software, Digital Media, and eCommerce. In 2007 and 2008, Max was named to Investment Dealer's Digest's Magazine's "40 Under 40" list of top international deal-makers. In 2010, Max was also recognized by M&A Advisor' list for "40 under 40" based on his recent accomplishments. Max began his career as a Research Assistant at Morgan Stanley before moving onto becoming a Financial Analyst at American International Group, and then moved to Veronis Suhler Stevenson (VSS), where he led a team that provided in-depth research on industries, companies, transactions, and valuations. His research was a cornerstone of publications such as Communications Industry Report and Communications Industry Forecast (published by VSS) as well as a critical information source for industry-specific publications such as Investment Dealers’ Digest Magazine (Global M&A roundtable discussion member), The Daily Deal, Securities Industry News, Corporate Finance Week, and Mergers & Acquisitions Magazine. Max joined Marlin & Associates Holding LLC as a Founding Partner where he advised on many successfully concluded mergers, acquisitions, capital raises, and valuations. Since beginning his investment-banking career he has worked on both domestic and international cross-border deals with some of the biggest names in the business, including: IBM, Bloomberg, Factset Research Systems, Thomson Reuters, NYSE Technologies, Digital River, Euronext, NPD Group, Ventyx, Screaming Media (now part of Dow Jones/NewsCorp), FiServ and Morningstar to name a few. Max has assisted many of the strategic companies backed by financial institutions, including; Hummer Winblad, NorthZone, Veronis Suhler Stevenson, Vista Equity Partners, ABRY Partners, and HAL Investments in divestitures and portfolio expansions. Max is a former director for the Upward Bound Program at Binghamton University and a member of the Young Executives Board for the National Down Syndrome Society in the NYC Chapter. Max holds degrees in Finance and Management Information Systems from the School of Management at Binghamton University. Max is a registered securities principal and holds series 24, 79, and 63. Max is a competitive motorcycle racer and skier.