Pillsbury Pillsbury Pillsbury
Pillsbury
Silicon Valley
2475 Hanover Street
Palo Alto, CA 94304-1114
Tel. +1.650.233.4537
Fax. +1.650.233.4545
Admissions
State of California
Education
J.D., Harvard Law School, 1981
cum laude
M.A., Public Policy, Harvard University, 1981
M.A., Latin American History, University of California, Los Angeles, 1978
B.A., Stanford University, 1977
with distinction, Phi Beta Kappa
 
N.D., University of the Philippines, 1982
Languages
Spanish

Professionals

Jorge A. del Calvo
Jorge A. del Calvo
Partner

Mr. del Calvo represents public and private technology companies in mergers and acquisitions, public offerings, private placements and joint ventures, investment banks in equity, debt and other transactions, and venture and private equity funds in their formation and investments. Mr. del Calvo's clients range in size from pre-funding start-ups to Fortune 500 companies.

From 2000 to the present, Mr. del Calvo led the nation in representing issuers in completed technology IPOs. He is particularly experienced with the business and legal issues implicated by rapid growth. Thirteen of the twenty-two issuers Mr. del Calvo represented on IPOs subsequently achieved market capitalizations in excess of $1B. Eight of these thirteen companies were represented by Mr. del Calvo since their incorporation. Included among the issuer-side IPOs handled by Mr. del Calvo are the first internet IPO (Netcom) and the first solar IPO (Sunpower). He has also worked with virtually all major investment banks as their counsel. In 2010 alone, Mr. del Calvo worked on eight underwritten public offerings including transactions in which he represented Goldman Sachs, J.P. Morgan, Deutsche Banc, Barclays, Jefferies and Stifel Nicolaus as joint bookrunners.

During his career, Mr. del Calvo has handled over one hundred merger and acquisition transactions, including the representation of Atheros in its $3.6 billion acquisition by Qualcomm and WebEx in its $3.2 billion acquisition by Cisco. He also has extensive experience in counseling public companies, and their boards, with respect to hostile takeovers, proxy contests, special investigations and corporate governance issues. Mr. del Calvo joined Pillsbury in 1982 and was made a partner in 1990. He served as leader or co-leader of the firm's National and Silicon Valley Corporate Securities and Technology group from 1994 to 2005, as a member of the firm's board since 2006 and as Chairman of its Finance Committee from 2006 to June, 2010.

Among the public companies Mr. del Calvo has represented are:

AboveNet Communications Inc.
Alliance Fiber Optic Products, Inc.*
Atheros Communications, Inc.*
Business Insurance Corp.*
CafePress, Inc.*
Centillium Communications, Inc.
Critical Path, Inc.*
eTelecare Global Solutions, Inc.*
Financial Engines*
Ikanos, Inc.
Inphi, Inc.*
Magma Design Automation, Inc.*
MicroLinear, Inc.
Netcom On-Line Communications
   Service, Inc.**
Network Solutions, Inc.*

NexGen Inc.*
Paradigm, Inc.*
PeopleSupport Inc.*
PortalPlayer, Inc.*
Savoir Technologies, Inc.
SiRF Technology Holdings Inc.*
SONICblue Incorporated (formerly
   S3, Inc.)*
SunPower Corporation***
SupportSoft, Inc.*
SYNNEX Corporation*
Tvia, Inc.*
Techwell, Inc.*
WebEx Communications, Inc.*

* Represented on IPO
**First Internet IPO
***First Solar IPO

During his career, Mr. del Calvo has represented U.S. and foreign issuers in hundreds of public and private offerings of equity, debt and convertible securities. His representation of public companies emphasizes corporate governance, including the Sarbanes-Oxley Act, Dodd-Frank Act, JOBS Act, and new stock exchange governance initiatives, as well as the law regarding public disclosures through periodic reports to the SEC, proxy statements, press releases and the like. He has represented private companies in connection with various equity and debt financings and shareholders' agreements and other arrangements among shareholders of closely held entities. He regularly consults with public and privately-held companies and their boards concerning issues involving the fiduciary duties of directors, corporate control issues and similar matters.

Mr. del Calvo also has extensive experience as counsel in mergers and acquisitions transactions, representing both sellers and acquirers, public and private. Included among the transactions he has been involved with are:

  • $3.6 billion acquisition of Atheros by Qualcomm, Inc.
  • $3.2 billion acquisition of WebEx Communications by Cisco Systems, Inc.
  • $850 million acquisition of NexGen, Inc. by Advanced Micro Devices, Inc.
  • $600 million acquisition of Litepoint by Teradyne
  • $600 million acquisition of Intel communications processor product line  by Marvell, Inc.
  • $450 million acquisition of Techwell by Intersil
  • $417 million acquisition of Mobile 365, Inc. by Sybase, Inc.
  • $357 million acquisition of PortalPlayer, Inc. by NVIDIA Corporation
  • $300 million acquisition of RemarQ Communities, Inc. by Critical Path, Inc.
  • $290 million acquisition of eTelecare Global Solutions, Inc. by Providence Equity Partners, Inc. and Ayala Corp*
  • $283 million acquisition of Centrality Communications Inc. by SiRF Technology Holdings Inc.
  • $255 million acquisition of NETCOM On-Line Communication Service, Inc. by IGC Communications, Inc.
  • $250 million acquisition of PeopleSupport by AEGIS BPO Services Ltd.
  • $250 million (including potential earn-out) acquisition of RMI by Netlogic
  • $244 million acquisition of Intellon, Inc. by Atheros Communications, Inc.

Italicized companies are the clients in the transactions.
*Structured as a go-private transaction in accordance with applicable U.S. SEC regulations.

Mr. del Calvo has also represented a number of investment bankers in equity, debt and other transactions, including work with such clients as Barclays, Deutsche Banc, Goldman Sachs, Jefferies, JP Morgan, Needham, Oppenheimer, Stifel and UBS, on a number of public offerings, private placements, spin-offs, and other transactions.  He has also represented a number of venture funds (including Redwood Ventures IV and Raza Venture Fund A and B) and incubators (including New Path, LLC and Raza Foundries) in connection with their formation and has represented a number of venture capital funds, private equity funds and investors in private placements of equity and debt.

Mr. del Calvo is a Coordinating Editor of the Venture Capital and Public Offering Negotiation, a two-volume treatise for lawyers. He has also been a Visiting Lecturer at Stanford Law School where he has taught several corporate law courses and was a panelist on several Continuing Education for the Bar (CEB) courses.

Mr. del Calvo is a charter member of the Silicon Valley chapter of the Indus Entrepreneurs (TiE), Asian American Multicultural Association (AAMA), and HispanicNet. He has been a speaker at various conferences sponsored by TiE, AAMA, HispanicNet, and other industry organizations.

Mr. del Calvo is currently serving on the board of Job Train, Inc. and the Vinters Alliance LLP has previously served on the boards of Berkeley Process Control, Columb, Inc., Riverstone Networks (RSTN), Procket Networks, Deepa Textiles, Xambala and New Path, LLC.

Honors & Awards
  • Best Lawyers in America, Corporate Law, Leveraged Buyouts and Private Equity Law, Mergers & Acquisitions Law, Securities / Capital Markets Law, Venture Capital Law (2005-2012)
  • Chambers USA, Investment Funds: Venture Capital—National, Capital Markets: Debt & Equity—California , Corporate: M&A—California, Corporate: Venture Capital—California (2005-2011)
  • PLC Which Lawyer?, Corporate M&A—San Francisco & Silicon Valley (2007-2011)
  • PLC Which Lawyer?, Venture Capital—San Francisco & Silicon Valley
  • Legal 500 US, M&A: Middle Market (sub-$500 million), Venture Capital and Emerging Growth (2009-2011)
  • Super Lawyers (2005-2010)

Affiliations

American Bar Association

External Publications

The Harvard Environmental Law Review, Markets in Air: Problems and Prospects of Controlled Trading. Volume 5. Number 2 1981

Venture Capital & Public Offering Negotiation, Third Edition Volume 1 and 2. Co-authors- Michael J. Halloran; Lee F. Benton; Robert V. Gunderson, Jr.; Jorge del Calvo; Thomas W. Kintner

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