Small investment banks including Allen & Co., Moelis & Co., and Qatalyst Group are joining big houses to advise on high-profile dealsA new breed of boutique investment bank is making its mark on the merger-crazed tech industry. Unlike the niche securities firms that a decade ago focused on research, stock sales, and initial public offerings in addition to mergers and acquisitions, this crop focuses more narrowly on matchmaking but is no less adept at getting in on some of tech's most lucrative deals.
Consider the Yahoo-Microsoft mating dance. In February, Yahoo (YHOO) hired Moelis & Co., the Los Angeles firm started last year by former UBS (UBS) investment banking head Ken Moelis, among other banks, for advice on resisting Microsoft's (MSFT) unfriendly offer, then worth $45 billion. Meanwhile, Google (GOOG) hired Frank Quattrone's new Qatalyst Group for advice on how to respond to Microsoft's bid (BusinessWeek, 3/27/08), according to published reports, supplementing services from Credit Suisse (CS).
Boutiques Offer More Flexibility
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