M&A Trends And The Future Of The Semiconductor Industry12/15/2016 - 12/15/2016
Silicon Catalyst, the startup incubator and accelerator for semiconductor solutions, is proud to present Mark Edelstone, Managing Director at Morgan Stanley, for our next seminar on the state of the semiconductor industry. The event will be at Wilson Sonsini in Palo Alto.
Due to the combination of slower growth and increasing cost and complexity, the semiconductor industry is currently going through a massive wave of consolidation. Thus far, the M&A trends we are seeing in semiconductors are analogous to what has been observed in other industries, like pharmaceuticals, aerospace & defense and US commercial banks. Within those industries, the top three suppliers ended up owning 70% or more market share during a 15-year wave of consolidation and the semiconductor industry should experience similar trends in the next dozen years. Within five years, half of all pure-play public semiconductor companies will be acquired and the top three suppliers will likely see their market share double in the next dozen years from around 30% share today. Mark Edelstone will discuss how this process will unfold, as well as the likely changes that can be expected as this consolidation wave is completed.
Mark Edelstone is Managing Director and Head of Global Semiconductor Banking at Morgan Stanley. He rejoined Morgan Stanley in 2013 as Co-Head of Semiconductor Investment Banking. He previously worked as a Managing Director and Head of Global Semiconductor Investment Banking at J.P. Morgan. Prior to joining J.P. Morgan, Mr. Edelstone was a Managing Director and Global Leader for Semiconductor Research at Morgan Stanley. Mr. Edelstone has led the IPOs for 23 companies, advised more than three dozen companies on M&A transactions valued at more than $100bn and helped companies to raise more than $65bn in the debt and equity capital markets. Mr. Edelstone was selected as an all-star analyst by Institutional Investor magazine for his research coverage of the semiconductor industry for 11 consecutive years. Mr. Edelstone was also consistently ranked as a leading semiconductor analyst in the annual Greenwich survey. Education Mark received his undergraduate degree in Political Economics from the University of California, and holds an MBA in Finance, with a concentration in Investments, from Golden Gate University in San Francisco. In addition, Mr. Edelstone holds the Chartered Financial Analyst and Chartered Market Technician designations.