Jeffries Group broadens its profile in the technology sector with the acquisition of Broadview

December 19, 2003

3 Min Read

NEW YORK -- Jefferies Group, Inc. (NYSE: JEF) today announced that it has entered into a definitive agreement to acquire Broadview International, a leading M&A advisor to technology companies. The acquisition is expected to be completed by year-end.

Broadview employs more than 75 investment bankers in offices in New York, Silicon Valley, Boston and London. Founded in 1973, the firm has provided clients with advice on merger and acquisition transactions, restructurings and strategic private placements. Over the last five years, Broadview has completed 321 M&A transactions worth a total of $54.3 billion, including 96 public-to-public transactions. Reflecting the global reach of its professionals, the total includes 44 transactions for companies based in Europe or Asia.

The addition of Broadview, with its complementary industry and product offerings, is a key component of Jefferies' strategic expansion into the technology sector, where the firm is already a significant institutional trader. The transaction represents an important continuation of Jefferies' strategy to create the leading investment bank serving middle-market companies and their investors.

Richard B. Handler, Chairman and CEO of Jefferies, commented, "A significant presence in the technology sector is key to our building the leading firm serving middle-market investors and issuers. This partnership combines Jefferies' strong investment banking, trading, research and asset management capabilities with the extensive technology industry knowledge and expertise of Broadview, and is an example of our ongoing plan to leverage the Jefferies platform in strategic areas."

"The consolidation of technology investment banking has left growth companies and their venture capital investors largely underserved," remarked Paul F. Deninger, Chairman and CEO of Broadview Holdings LLP. "Our combined offerings uniquely position us to better meet the needs of this market as we build the leading investment bank for middle-market technology and growth companies."

With Broadview, Jefferies will be a leading provider of investment banking services for middle-market companies in growth industries, including aerospace & defense, business services, healthcare, knowledge services, media, and technology, among others. Due to the abundance of growth companies in the technology sector, this union is also a logical expansion of Jefferies' broader capabilities in serving the middle market, and is complementary on a number of levels.

"We are extremely pleased to welcome the partners and employees of Broadview to the Jefferies platform," said John C. Shaw Jr., President of Jefferies. "Broadview's M&A expertise and relationships in the technology industry complement Jefferies' outstanding capabilities in all aspects of the capital markets. Among other benefits, the enhanced knowledge they bring will improve our strong position as an institutional trader of technology stocks."

Alec L. Ellison, President of Broadview International, LLC, added, "Our clients will greatly benefit from Jefferies' quality distribution and access to the equity, convertible and high yield markets, as well as the firm's expertise in restructuring and other financial advisory services. We are excited about becoming Jefferies shareholders and look forward to integrating Broadview's industry expertise with the broader Jefferies platform as we bring the capabilities of a powerful, full-service investment bank to our clients."

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