Michael Grimes
Encyclopedia
Michael Grimes is Managing Director and Co-Head of Global Technology Investment Banking
at Morgan Stanley
.
In 2002, Grimes was first named to Forbes
’ Midas List of the top dealmakers in technology and life sciences venture capital and investment banking, debuting as the second ranked investment banker and #18 overall; Grimes has been the top ranked investment banker on the Midas list in 2004, 2005, 2006, and 2007, and the second ranked technology investment banker in 2008. In July 2010, Grimes was named to Fortune’s “50 Smartest People In Tech.”
Grimes has also been named by AlwaysOn to their “Power List” of technology dealmakers, Institutional Investor’s November 2006 “40 under 40” list of investment bankers who represent “the way Wall Street is evolving today”, the New York Times “Facebook of Wall Street’s future” , Dealmaker magazine’s “Top 50 Rainmakers”.
in Pasadena, California and the University of California, Berkeley
, where he received degrees in Electrical Engineering and Computer Science. He interned as a communications systems engineer at Hughes Aircraft Company in the Space and Communications Group in 1985, as an information systems engineer at Pacific Bell
in 1986, and was a software programmer and consultant at Grimes Surveying & Mapping Inc.
now part of Citigroup
in technology investment banking, and in 1992 joined Bear Stearns
as a Vice President in technology banking. In 1995, Grimes was recruited by Frank Quattrone
to join Morgan Stanley as a Vice President in their Menlo Park
office, focused on technology banking. In April 1996, Quattrone and a number of deputies departed for Deutsche Morgan Grenfell, leaving Grimes to stay at Morgan Stanley. Grimes then worked under Cordell Spencer and Dhiren Shah over the next few years and helped rebuild the West Coast Technology Investment Banking business. In 2005 Grimes and Paul Chamberlain were elevated to Co-Heads of Global Technology Banking.
Michael Grimes’ clients have included Accenture
, Agilent, AMD, Atheros
, Atmel
, Avago
, Avaya
, Electronic Arts
, EMC
, Google
, HP, Ingram Micro
, Intel, KLA Instruments, Lattice Semiconductor
, Lucent, Microsoft
, Netflix
, Nvidia
, Omniture
, Oracle
, SAIC
, SanDisk
, Seagate
, SuccessFactors
, Qualcomm
, VeriSign
, and Veritas
.
Michael Grimes has been involved with hundreds of technology investment banking transactions aggregating over $100 billion in value, including a number of high profile IPOs, mergers and acquisitions
, equity and debt financings. Most notable was Google
’s $1.9 billion initial public offering, completed with an auction format. Other high profile technology IPOs he worked on include Accenture
, Atheros
, Bigband, Cymer, Rambus
, @Home Networks, Brocade, Extreme Networks
, Omniture
, Optium, SanDisk
, Seagate Technology
, Science Applications International Corporation
(SAIC), SuccessFactors
, and VeriSign
. Recently, Grimes worked on HP’s acquisition of 3Com
, Omniture
’s acquisition by Adobe
, Dell
’s acquisition of Perot Systems
, Zappos joining forces with Amazon
, AdMob
’s acquisition by Google
, EMC
’s acquisition of Data Domain
, Dash
Navigation’s acquisition by Research in Motion
, Logitech
’s acquisition of LifeSize
and the IPOs for A123, Avago
, Ancestry.com, Digital Globe, and Fortinet
, along with the follow-on offering for SuccessFactors
and debt offering for Netflix
. Grimes has also been involved with technology M&A transactions such as Seagate Technology’s $20.5 billion 3-way merger and spinoff transaction with Veritas Software
, Silver Lake Partners
and Texas Pacific Group
, Hewlett-Packard
’s $13.6 billion split-up into HP and Agilent (at the time the Agilent IPO was the largest initial public offering in Silicon Valley history), Oracle’s $5.8 billion acquisition of Siebel
.
The technology team at Morgan Stanley was featured in a BusinessWeek cover story which focused on Morgan Stanley’s team approach to IPOs and lack of a star system in technology.
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
at Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
.
In 2002, Grimes was first named to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
’ Midas List of the top dealmakers in technology and life sciences venture capital and investment banking, debuting as the second ranked investment banker and #18 overall; Grimes has been the top ranked investment banker on the Midas list in 2004, 2005, 2006, and 2007, and the second ranked technology investment banker in 2008. In July 2010, Grimes was named to Fortune’s “50 Smartest People In Tech.”
Grimes has also been named by AlwaysOn to their “Power List” of technology dealmakers, Institutional Investor’s November 2006 “40 under 40” list of investment bankers who represent “the way Wall Street is evolving today”, the New York Times “Facebook of Wall Street’s future” , Dealmaker magazine’s “Top 50 Rainmakers”.
Early life and education
Michael Grimes was born in Los Angeles, California in 1966 and attended Polytechnic SchoolPolytechnic School
Polytechnic School, often referred to as simply Poly, is a college preparatory private school in Pasadena, California.-History:The school was founded in 1907 as the first private non-sectarian, non-profit elementary school in California. It descends from the Throop Polytechnic Institute founded by...
in Pasadena, California and the University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
, where he received degrees in Electrical Engineering and Computer Science. He interned as a communications systems engineer at Hughes Aircraft Company in the Space and Communications Group in 1985, as an information systems engineer at Pacific Bell
Pacific Bell
The Pacific Telephone and Telegraph Company was the name of the Bell System's telephone operations in California. It gained in size by acquiring smaller telephone companies along the Pacific coast, such as Sunset Telephone & Telegraph in 1917...
in 1986, and was a software programmer and consultant at Grimes Surveying & Mapping Inc.
Career
Upon graduation in 1987, Grimes joined Salomon BrothersSalomon Brothers
Salomon Brothers was a bulge bracket, Wall Street investment bank. Founded in 1910 by three brothers along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and then became Salomon Inc. Eventually...
now part of Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
in technology investment banking, and in 1992 joined Bear Stearns
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
as a Vice President in technology banking. In 1995, Grimes was recruited by Frank Quattrone
Frank Quattrone
Frank Quattrone is an American technology-focused investment banker who started technology sector franchises at Morgan Stanley, Deutsche Bank, and Credit Suisse First Boston. He helped bring dozens of technology companies public during the 1990s tech boom, including Netscape, Cisco, and Amazon.com...
to join Morgan Stanley as a Vice President in their Menlo Park
Menlo Park
Menlo Park may refer to:*Menlo Park, New Jersey, USA*Menlo Park, California, USA*Menlo Park, Pretoria, South Africa...
office, focused on technology banking. In April 1996, Quattrone and a number of deputies departed for Deutsche Morgan Grenfell, leaving Grimes to stay at Morgan Stanley. Grimes then worked under Cordell Spencer and Dhiren Shah over the next few years and helped rebuild the West Coast Technology Investment Banking business. In 2005 Grimes and Paul Chamberlain were elevated to Co-Heads of Global Technology Banking.
Michael Grimes’ clients have included Accenture
Accenture
Accenture plc is a global management consulting, technology services and outsourcing company headquartered in Dublin, Republic of Ireland. It is the largest consulting firm in the world and is a Fortune Global 500 company. As of September 2011, the company had more than 236,000 employees across...
, Agilent, AMD, Atheros
Atheros
Qualcomm Atheros is a developer of semiconductors for network communications, particularly wireless chipsets. Founded under the name Atheros in 1998 by experts in signal processing from Stanford University, the University of California, Berkeley and the private industry, it became a public company...
, Atmel
Atmel
Atmel Corporation is a manufacturer of semiconductors, founded in 1984. Its focus is on system-level solutions built around flash microcontrollers...
, Avago
Avago
Avago was a gaming television channel in the United Kingdom and Republic of Ireland. It was launched on 4 July 2002.- Games :...
, Avaya
Avaya
Avaya Inc. is a privately held computer networking, information technology and telecommunications company that is a global provider of business communications systems. The international head quarters is in Basking Ridge, New Jersey, United States...
, Electronic Arts
Electronic Arts
Electronic Arts, Inc. is a major American developer, marketer, publisher and distributor of video games. Founded and incorporated on May 28, 1982 by Trip Hawkins, the company was a pioneer of the early home computer games industry and was notable for promoting the designers and programmers...
, EMC
EMC Corporation
EMC Corporation , a Financial Times Global 500, Fortune 500 and S&P 500 company, develops, delivers and supports information infrastructure and virtual infrastructure hardware, software, and services. EMC is headquartered in Hopkinton, Massachusetts, USA.Former Intel executive Richard Egan and his...
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...
, HP, Ingram Micro
Ingram Micro
Ingram Micro, Inc. is a Fortune 100 company and the world’s largest information technology distributor, providing sales, marketing and logistics services for the IT industry in all corners of the globe.-Overview:...
, Intel, KLA Instruments, Lattice Semiconductor
Lattice Semiconductor
Lattice Semiconductor Corporation is a United States based manufacturer of high-performance programmable logic devices . Founded in 1983, the company employs about 700 people and has annual revenues of around $300 million, with Darin Billerbeck as the chief executive officer...
, Lucent, Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
, Netflix
Netflix
Netflix, Inc., is an American provider of on-demand internet streaming media in the United States, Canada, and Latin America and flat rate DVD-by-mail in the United States. The company was established in 1997 and is headquartered in Los Gatos, California...
, Nvidia
NVIDIA
Nvidia is an American global technology company based in Santa Clara, California. Nvidia is best known for its graphics processors . Nvidia and chief rival AMD Graphics Techonologies have dominated the high performance GPU market, pushing other manufacturers to smaller, niche roles...
, Omniture
Omniture
Omniture is an online marketing and web analytics business unit owned by Adobe Systems. The Omniture Business Unit is based in Orem, Utah, with offices worldwide. It serves customers in 75 countries worldwide.- History :...
, Oracle
Oracle Corporation
Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
, SAIC
SAIC
The acronym SAIC can stand for:*Science Applications International Corporation*School of the Art Institute of Chicago*Shanghai Automotive Industry Corporation*Shanghai Aviation Industrial Company*Special Agent in Charge, acronym used by some U.S...
, SanDisk
SanDisk
SanDisk Corporation is an American multinational corporation that designs, develops and manufactures data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. It was founded in 1988 by Dr. Eli Harari and Sanjay Mehrotra, non-volatile memory...
, Seagate
Seagate Technology
Seagate Technology is one of the world's largest manufacturers of hard disk drives. Incorporated in 1978 as Shugart Technology, Seagate is currently incorporated in Dublin, Ireland and has its principal executive offices in Scotts Valley, California, United States.-1970s:On November 1, 1979...
, SuccessFactors
SuccessFactors
SuccessFactors is an American-based company headquartered in San Mateo, California, with regional headquarters in London , Munich , Paris , Hong Kong and Tokyo . Other major offices are in Brisbane, Beijing, Jakarta, Manila, Bangalore and Boston...
, Qualcomm
Qualcomm
Qualcomm is an American global telecommunication corporation that designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access technology and other technologies. Headquartered in San Diego, CA, USA...
, VeriSign
VeriSign
Verisign, Inc. is an American company based in Dulles, Virginia that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the authoritative registry for the .com, .net, and .name generic top-level domains and the .cc and .tv country-code...
, and Veritas
Veritas
In Roman mythology, Veritas, meaning truth, was the goddess of truth, a daughter of Saturn and the mother of Virtue. It was believed that she hid in the bottom of a holy well because she was so elusive. Her image is shown as a young virgin dressed in white...
.
Michael Grimes has been involved with hundreds of technology investment banking transactions aggregating over $100 billion in value, including a number of high profile IPOs, mergers and acquisitions
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
, equity and debt financings. Most notable was Google
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...
’s $1.9 billion initial public offering, completed with an auction format. Other high profile technology IPOs he worked on include Accenture
Accenture
Accenture plc is a global management consulting, technology services and outsourcing company headquartered in Dublin, Republic of Ireland. It is the largest consulting firm in the world and is a Fortune Global 500 company. As of September 2011, the company had more than 236,000 employees across...
, Atheros
Atheros
Qualcomm Atheros is a developer of semiconductors for network communications, particularly wireless chipsets. Founded under the name Atheros in 1998 by experts in signal processing from Stanford University, the University of California, Berkeley and the private industry, it became a public company...
, Bigband, Cymer, Rambus
Rambus
Rambus Incorporated , founded in 1990, is a technology licensing company. The company became well known for its intellectual property based litigation following the introduction of DDR-SDRAM memory.- History :...
, @Home Networks, Brocade, Extreme Networks
Extreme Networks
Extreme Networks, founded in 1996, is a publicly listed company that designs, builds, and installs Ethernet network solutions for enterprise and Carrier Class networks.-Corporate History:Extreme Networks is located in Santa Clara, California...
, Omniture
Omniture
Omniture is an online marketing and web analytics business unit owned by Adobe Systems. The Omniture Business Unit is based in Orem, Utah, with offices worldwide. It serves customers in 75 countries worldwide.- History :...
, Optium, SanDisk
SanDisk
SanDisk Corporation is an American multinational corporation that designs, develops and manufactures data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. It was founded in 1988 by Dr. Eli Harari and Sanjay Mehrotra, non-volatile memory...
, Seagate Technology
Seagate Technology
Seagate Technology is one of the world's largest manufacturers of hard disk drives. Incorporated in 1978 as Shugart Technology, Seagate is currently incorporated in Dublin, Ireland and has its principal executive offices in Scotts Valley, California, United States.-1970s:On November 1, 1979...
, Science Applications International Corporation
Science Applications International Corporation
SAIC is a FORTUNE 500 scientific, engineering and technology applications company headquartered in the United States with numerous federal, state, and private sector clients...
(SAIC), SuccessFactors
SuccessFactors
SuccessFactors is an American-based company headquartered in San Mateo, California, with regional headquarters in London , Munich , Paris , Hong Kong and Tokyo . Other major offices are in Brisbane, Beijing, Jakarta, Manila, Bangalore and Boston...
, and VeriSign
VeriSign
Verisign, Inc. is an American company based in Dulles, Virginia that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the authoritative registry for the .com, .net, and .name generic top-level domains and the .cc and .tv country-code...
. Recently, Grimes worked on HP’s acquisition of 3Com
3Com
3Com was a pioneering digital electronics manufacturer best known for its computer network infrastructure products. The company was co-founded in 1979 by Robert Metcalfe, Howard Charney, Bruce Borden, and Greg Shaw...
, Omniture
Omniture
Omniture is an online marketing and web analytics business unit owned by Adobe Systems. The Omniture Business Unit is based in Orem, Utah, with offices worldwide. It serves customers in 75 countries worldwide.- History :...
’s acquisition by Adobe
Adobe Systems
Adobe Systems Incorporated is an American computer software company founded in 1982 and headquartered in San Jose, California, United States...
, Dell
Dell
Dell, Inc. is an American multinational information technology corporation based in 1 Dell Way, Round Rock, Texas, United States, that develops, sells and supports computers and related products and services. Bearing the name of its founder, Michael Dell, the company is one of the largest...
’s acquisition of Perot Systems
Perot Systems
Perot Systems was an information technology services provider founded in 1988 by a group of investors led by Ross Perot and based in Plano, Texas, United States. A Fortune 1000 corporation with offices in more than 25 countries, Perot Systems employed more than 23,000 people and had an annual...
, Zappos joining forces with Amazon
Amazon.com
Amazon.com, Inc. is a multinational electronic commerce company headquartered in Seattle, Washington, United States. It is the world's largest online retailer. Amazon has separate websites for the following countries: United States, Canada, United Kingdom, Germany, France, Italy, Spain, Japan, and...
, AdMob
AdMob
AdMob is a mobile advertising company founded by Omar Hamoui. The name AdMob is a portmanteau for "advertising on mobile". It was incorporated in 2006 and is based in San Mateo, California. In November 2009 it was acquired by Google for $750 million. The acquisition was completed on May 27, 2010....
’s acquisition by Google
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...
, EMC
EMC Corporation
EMC Corporation , a Financial Times Global 500, Fortune 500 and S&P 500 company, develops, delivers and supports information infrastructure and virtual infrastructure hardware, software, and services. EMC is headquartered in Hopkinton, Massachusetts, USA.Former Intel executive Richard Egan and his...
’s acquisition of Data Domain
Data domain
In data management and database analysis, a data domain refers to all the unique values which a data element may contain. The rule for determining the domain boundary may be as simple as a data type with an enumerated list of values....
, Dash
Dash
A dash is one of several kinds of punctuation mark. Dashes appear similar to hyphens, but differ from them primarily in length, and serve different functions. The most common versions of the dash are the en dash and the em dash .-Common dashes:...
Navigation’s acquisition by Research in Motion
Research In Motion
Research In Motion Limited or RIM is a Canadian multinational telecommunications company headquartered in Waterloo, Ontario, Canada that designs, manufactures and markets wireless solutions for the worldwide mobile communications market...
, Logitech
Logitech
Logitech International S.A. is a global provider of personal peripherals for computers and other digital platforms headquartered in Romanel-sur-Morges, Switzerland. The company develops and markets products like peripheral devices for PCs, including keyboards, mice, microphones, game controllers...
’s acquisition of LifeSize
LifeSize
LifeSize, a division of Logitech, is a video and audio communications company that provides high definition video conferencing endpoints and accessories, infrastructure products and a cloud-based video collaboration platform. LifeSize's worldwide headquarters is located in Austin, Texas...
and the IPOs for A123, Avago
Avago
Avago was a gaming television channel in the United Kingdom and Republic of Ireland. It was launched on 4 July 2002.- Games :...
, Ancestry.com, Digital Globe, and Fortinet
Fortinet
Fortinet is headquartered in Sunnyvale, California and specializes in network security appliances. Fortinet’s flagship product line is sold under the brand name of FortiGate.-Corporate Overview:...
, along with the follow-on offering for SuccessFactors
SuccessFactors
SuccessFactors is an American-based company headquartered in San Mateo, California, with regional headquarters in London , Munich , Paris , Hong Kong and Tokyo . Other major offices are in Brisbane, Beijing, Jakarta, Manila, Bangalore and Boston...
and debt offering for Netflix
Netflix
Netflix, Inc., is an American provider of on-demand internet streaming media in the United States, Canada, and Latin America and flat rate DVD-by-mail in the United States. The company was established in 1997 and is headquartered in Los Gatos, California...
. Grimes has also been involved with technology M&A transactions such as Seagate Technology’s $20.5 billion 3-way merger and spinoff transaction with Veritas Software
VERITAS Software
Veritas Software Corp. was an international software company that was founded in 1983 as Tolerant Systems, renamed Veritas Software Corp. in 1989, and merged with Symantec in 2005. It was headquartered in Mountain View, California...
, Silver Lake Partners
Silver Lake Partners
Silver Lake is a US-based private equity firm focused on leveraged buyout and growth capital investments in technology, technology-enabled and related industries...
and Texas Pacific Group
Texas Pacific Group
TPG Capital is one of the largest private equity investment firms globally, focused on leveraged buyout, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations. TPG also manages investment funds specializing in growth capital, venture capital,...
, Hewlett-Packard
Hewlett-Packard
Hewlett-Packard Company or HP is an American multinational information technology corporation headquartered in Palo Alto, California, USA that provides products, technologies, softwares, solutions and services to consumers, small- and medium-sized businesses and large enterprises, including...
’s $13.6 billion split-up into HP and Agilent (at the time the Agilent IPO was the largest initial public offering in Silicon Valley history), Oracle’s $5.8 billion acquisition of Siebel
Siebel
Siebel, originally Flugzeugbau Halle, was a German aircraft manufacturer founded in 1937 in Halle an der Saale. It was revived as Siebelwerke in 1948. In 1952, it merged with ATG to form Siebelwerke-ATG Gmbh...
.
The technology team at Morgan Stanley was featured in a BusinessWeek cover story which focused on Morgan Stanley’s team approach to IPOs and lack of a star system in technology.