Michael Nathanson (L) and Craig Moffett.
CNBC
SVB Financial Group, the parent company of Silicon Valley Bank, has agreed to acquire technology, media and telecommunications research MoffettNathanson.
Financial terms of the deal weren’t disclosed.
The deal combines SVB’s technology investment banking unit with a research division founded by veteran analysts Craig Moffett and Michael Nathanson.
Moffett has covered the telecommunications industry for more than 25 years, with decade-long stops at The Boston Consulting Group and Sanford Bernstein before co-founding MoffettNathanson in 2013. Nathanson covered media at Bernstein from 1998 to 2010 before moving to Nomura until 2013.
MoffettNathanson doesn’t expect any changes for its clients of equity research, the company said. Both Moffett and Nathanson have made long-term commitments to SVB to stay with the company.
“We will begin immediately to collaborate with SVB to significantly expand what we can deliver, further positioning us as the preferred partner to our clients,” the company said in a statement.