Monday, September 16, 2013

Which tech giants have most cash for M&A


Top 5: Which tech giants have most cash for M&A?



Google: $16.2 billion — Larry Page, the search giant's CEO and co-founder, has the most cash to work with of any tech leader and he's made some big buys in 2013. He paid nearly $1 billion for social driving directions app Waze in June and another $300 million or so for about 16 others in the first half.
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Google: $16.2 billion — Larry Page, the search giant's CEO and co-founder, has the most cash to work with of any tech leader and he's made some big buys in 2013. He paid nearly $1 billion for social driving directions app Waze in June and another $300 million or so for about 16 others in the first half.
Senior Technology Reporter- Silicon Valley Business Journal
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Folks have been predicting a big wave of tech mergers and acquisitions in the second half after a relatively quiet beginning to 2013.
Last week's $7.2 billion acquisition of Nokia's phone business and patents by Microsoft is the biggest deal so far in that regard.
A recent report from CB Insights, posted before the Microsoft-Nokia deal, showed that the biggest companies in tech had plenty of cash — $180 billion to be exact — ready to make deals as of the end of the first half of the year.
LinkedIn last week said M&A is one of the reasons that it's raising more than $1 billion in a new stock offering.
And Western Digital, ranked at No. 15 by CB Insights on a list of the tech companies with the deepest pockets, announced on Monday it is paying about $685 million in cash to buy flash storage company Virident Systems.
Apple shows up at No. 4 on the list with only $11 billion in cash, but it has enough short and long-term marketable securities on hand that its deal-ready money is more like $140 billion. M&A isn't really in the company's genes but it has the deep pockets to do a deal if it wants to.
Dell is in the top five, too, but its cash appears headed towards being used in its leveraged buyout instead of picking up anything externally.
Click through the accompanying photo gallery to see who the others in the top five are, as well as the full top 30.
Back in July, PricewaterhouseCoopers tech deals leader Rob Fisher said, "Technology companies face the constant conundrum of a need to balance key investment initiatives while navigating fears of future downturns amid signs of positive economic growth. While the number of closed technology transactions declined in the second quarter, new deal announcements point to robust M&A activity for the rest of 2013 as technology businesses plot their next wave of transactions."
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Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.

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